Magazine Ranks Pennsylvania Ahead of California, Massachusetts
HARRISBURG, Pa., July 23 /PRNewswire-USNewswire/ -- Pennsylvania's efforts to develop and diversify its biotechnology business sector have made it the number one state in the nation in the newest Business Facilities magazine study, Governor Edward G. Rendell said today.
"We have laid the groundwork to keep Pennsylvania number one in biotech," Governor Rendell said of the overall biotechnology strength ranking. "The commonwealth's support for the entire continuum of biotech initiatives, from research and development and product commercialization to bringing mature companies to our state, is paying dividends, even in these uncertain economic times."
Governor Rendell announced the ranking today during the groundbreaking in Montgomery County for the new North American headquarters of Almac, a provider of research, development and manufacturing services for pharmaceutical and biotechnology industries worldwide.
The magazine cited "the diversity and depth of Pennsylvania's initiatives" in giving it its top ranking. This year's ranking represents a significant advancement for the commonwealth, which has been no higher than 11th position in biotechnology strength over the previous three years.
The report identified more than 20 key criteria, including the amount of state R&D funding and venture capital investments; the level of concentrated occupational employment in biotech; tax exemptions and university grant funding among other factors.
"Biotechnology plays a critical role in Pennsylvania's economic and strategic growth," Governor Rendell said. "We're providing our biotechnology industry with a competitive edge by directing support and funding to companies to expand, create jobs and retain Pennsylvania's talent."
Pennsylvania's programs to address the ongoing needs of life science
companies include the Commonwealth Universal Research Enhancement, or CURE
|SOURCE Pennsylvania Office of the Governor|
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