Ohio Bipartisan Job Stimulus Plan - Biomedical Industry
Even in economically challenging times, Ohio's bioscience industry continues to grow. Ohio's bioscience industry is the state's largest and fastest-growing economic sector. The state's strategic investments combined with a collective commitment and action within Ohio's regions have resulted in a significant bioscience boom. Once considered middle-of-the-pack, Ohio is now recognized as a Top 4 bioscience state in terms of growth, innovation and impact.
Ohio has indeed seen extraordinary results. Ohio's newly formed bioscience companies have become magnets for national venture investment. Since 2001 the annual investment in Ohio's bioscience companies has gone from about $60 million per year to nearly $300 million per year in 2007, leading all states between the coasts. Significantly, most of the over $800 million invested in Ohio companies of the past five years has come from coastal investment firms that have "discovered" the state.
The global industry has taken notice and increasingly companies are seeking opportunities to establish in, and get better connected to Ohio. For example, Amylin Pharmaceuticals (California) is investing $470 million in a new manufacturing facility, Eurand (Italy) is establishing their North American headquarters and manufacturing in Dayton, and Phillips Medical (Netherlands) is expanding its manufacturing facility in Cleveland, bringing its operation from California.
Ohio has indeed seen extraordinary results. Ohio's newly formed bioscience companies have become magnets for national venture investment. Since 2001 the annual investment in Ohio's bioscience companies has gone from about $60 million per year to nearly $300 million per year in 2007, leading all states between the coasts. Significantly, most of the over $800 million invested in Ohio companies of the past five years has come from coastal investment firms that have "discovered" the state.
The global industry has taken notice and increasingly companies are seeking opportunities to establish in, and get better connected to Ohio. For example, Amylin Pharmaceuticals (California) is investing $470 million in a new manufacturing facility, Eurand (Italy) is establishing their North American headquarters and manufacturing in Dayton, and Phillips Medical (Netherlands) is expanding its manufacturing facility in Cleveland, bringing its operation from California.