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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.

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    SOURCE The Kansas Bioscience Authority
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