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Ohio Bioscience Industry Leads Midwest, Among Best in Nation as Investment Destination
Date:10/21/2009

COLUMBUS, Ohio, Oct. 21 /PRNewswire/ -- While other states jockeyed for position on Business Facilities Magazine's second-annual Biotechnology Strength Report, Ohio defended its ranking as best in the Midwest and No. 4 in the nation for its strengths in the bioscience industry.

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Ohio's exceptional bioscience ranking is in part due to updated estimates of overall biotechnologies economic impact, incentives, academic research expansion, major new initiatives, growth potential and employment numbers. According to the Ohio Business Development Coalition, the nonprofit organization that markets the state for capital investment, the biotechnologies report further validates Ohio's standing as a national leader in the bioscience industry.

"Ohio Third Frontier project investments in innovation and technology, especially in the biosciences, really have catalyzed growth in both public and private sectors of our state's emerging industries," said BioOhio president and chief executive officer Tony Dennis, leader of the state's biotechnologies accelerator non-profit. "According to BioOhio's most recent Ohio Bioscience Growth Report, public and private investment has contributed to more than 1,100 bioscience organizations operating in our state, with an average of 70 new companies starting operations each year from 2004 to 2008."

The biotechnologies report's authors conclude that "the still-hot biotech sector has cemented its status as a crucial building block for future growth."

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SOURCE Ohio Business Development Coalition
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