Navigation Links
Kansas Bioscience Authority Announces FY11 Outcomes of $207 Million
Date:11/16/2011

OLATHE, Kan., Nov. 16, 2011 /PRNewswire/ -- The Kansas Bioscience Authority today announced its outcomes for fiscal year 2011, which ended June 30, and cumulative outcomes since the KBA's inception. The following direct outcomes, all related to KBA investments, are reported annually based on information provided by KBA client companies and universities:

  • New, full-time jobs created by bioscience companies in Kansas;
  • New, external research funding attracted to Kansas;
  • Capital expenditures in the acquisition or creation of long-lived assets;
  • Equity investments made in Kansas companies, in the form of equity or convertible debt.

  • KBA investments to date total $87.5 million. These investments yielded $207.3 million in direct outcomes in fiscal 2011 and $816.5 million in direct outcomes since 2004.

    "The outcomes reported today demonstrate KBA grants and investments are succeeding in building the bioscience sector in Kansas and fueling the Kansas economy. We acknowledge and appreciate the efforts of the partners that helped achieve these outcomes for the state, including the Kansas Department of Commerce," said KBA Board Chairman Dan Watkins.

    The Kansas Bioscience Authority was established by the state legislature in 2004 to help grow the bioscience sector into a pillar of the Kansas economy, joining agriculture, aviation and manufacturing as strong contributors of jobs and opportunities throughout the state.

    Full-Time JobsSince 2004, 1,347 new full-time bioscience jobs have been created by 41 Kansas companies and universities, related to KBA investments. These new Kansas bioscience workers earned approximately $92.6 million in fiscal 2011, at an average annual wage of $68,716. (The average annual wage in Kansas is $39,290, according to the U.S. Department of Labor Bureau of Labor Statistics).  Since 2004, these new bioscience workers have earned $354.2 million in annualized wages.

    External Research FundingIn fiscal 2011, KBA investments attracted $18.2 million in new external research funding. This includes funding such as National Institutes of Health (NIH) grants for researchers at state universities, USDA grants to animal health firms, Small Business Innovation Research (SBIR) grants to Kansas businesses, and research contracts with pharmaceutical companies. Since 2004, KBA investments have spurred $104.9 million in external research funding, including $44.6 million in new research funding for the University of Kansas Cancer Center.

    Capital ExpendituresCapital expenditures in fiscal 2011 related to KBA investments totaled $65.9 million. This reflects KBA client company spending on fixed assets including new facilities, new equipment and land. Since 2004, KBA investments have yielded $278.5 million in capital expenditures.

    Equity InvestmentsOutside equity investments made in Kansas bioscience companies is another outcome measured by the KBA, as access to capital is a key component to the survival and growth of early stage companies in the capital-intensive bioscience sector.  In fiscal 2011, KBA investments helped companies attract $30.6 million in new equity investments. These investments were made by venture capital firms, angel investors and other private investors. Since 2004, KBA investments have resulted in $78.9 million in private equity investments in Kansas bioscience companies.Kansas Bioscience Authority Investments & Outcomes(through 30 June 2011)InvestmentsTotal Investments Paid$87.5 millionOutcomesFiscal 2011Since InceptionAnnualized Wages

    $92.6 million$354.2 millionExternal Research

    $18.2 million$104.9 millionCapital Expenditures

    $65.9 million$278.5 millionEquity Investments

    $30.6 million$78.9 millionTotal:$207.3 million$816.5 million About the KBA

    The Kansas Bioscience Authority was created by the innovative Kansas Economic Growth Act of 2004 to accelerate growth in the promising bioscience sector. Funded by Kansas income taxes generated by bioscience jobs, Kansas Bioscience Authority investments help create high-paying jobs, fuel capital expenditures, spur outside grants, and encourage private capital investments in Kansas bioscience companies. The long-term result of Kansas Bioscience Authority investments will be high quality jobs for the next generation of Kansans and bioscience discoveries that will improve lives around the world. To learn more, visit www.kansasbioauthority.org.

    Contact: Sherlyn Manson
    manson@kansasbioauthority.org
    Office: 913-944-4855
    Mobile: 913-624-4673


    '/>"/>

    SOURCE The Kansas Bioscience Authority
    Copyright©2010 PR Newswire.
    All rights reserved

    Related biology technology :

    1. Biotech Endorsement Insurance Discount Expanded to Nebraska, Kansas Growers Planting Corn with HERCULEX XTRA Traits
    2. Midwest Research Institute Expands in Kansas to Support Regional Economic Development in Animal Health, Biosecurity, and Bioenergy Sectors
    3. As Other States Pull Back, Kansas Accelerates Innovation Investments at Bio International Convention
    4. Kansas Delegation Defends NBAF, Refutes Washington Post
    5. Kansas Bioscience Authority Commits $50 Million to Increase Venture Capital, Accelerate Bioscience Business Growth
    6. Forensic Scientists at Kansas City Crime Lab Release Validation Report Confirming Zygems forensicGEM(R) Kit is a Reliable, Rapid Method for Extracting DNA From Saliva
    7. Monogram Biosciences to Present at the Thomas Weisel Partners Healthcare Conference 2008
    8. Carna Biosciences Signs Reagent Supply Agreement with Caliper Life Sciences
    9. Pressure BioSciences, Inc. to Discuss Second Quarter 2008 Financial Results and Provide Business Update
    10. Milestone Biosciences, LLC Further Strengthens Executive Management Team
    11. Pressure BioSciences, Inc. Reports Second Quarter 2008 Financial Results and Provides Business Update
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:8/18/2017)... ... August 18, 2017 , ... OAI, a leading ... and Microfluidics Industries, announces the new Model 800E front and backside, semi-automatic mask ... production mask aligners. OAI has already received and installed several orders for ...
    (Date:8/16/2017)... , ... August 16, 2017 , ... Tunnell Consulting ... in sessions at the ISPE Annual Meeting and Expo , to be held ... Marina. The event’s theme is “Driving innovation to advance patient therapies.” , The ISPE ...
    (Date:8/16/2017)... ... August 16, 2017 , ... While art and science are often thought ... than one might think. A Mesh Is Also a Snare, a group exhibition ... Science Center’s Esther Klein Gallery (EKG) on August 17 and run through September 30. ...
    (Date:8/16/2017)... Aug. 16, 2017  This year,s edition of the Inc. 5000 features ... sciences workforce solutions, has made the list for the third year in ... nation,s fastest-growing private companies based on a set of quantitative metrics. In ... the fastest-growing companies in the Bay State . ... Inc. 5000 ...
    Breaking Biology Technology:
    (Date:3/27/2017)... , March 27, 2017  Catholic Health Services ... Management Systems Society (HIMSS) Analytics for achieving Stage ... Model sm . In addition, CHS previously earned ... hospitals using an electronic medical record (EMR). ... high level of EMR usage in an outpatient ...
    (Date:3/23/2017)... 23, 2017 The report "Gesture Recognition and Touchless Sensing ... Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected ... 29.63% between 2017 and 2022. Continue Reading ... ... ...
    (Date:3/22/2017)... NEW YORK , March 21, 2017 /PRNewswire/ ... Customer Marketing Cloud used by retailers such as ... in its platform — Product Recommendations and Replenishment. Using ... to give more personalized product and replenishment recommendations ... purchases, but also on predictions of customer intent ...
    Breaking Biology News(10 mins):