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Monday, March 22, 2004

Biotech - As an economic engine

Updating our entry of March 7th, that contained stories of how "many cities and states are scrambling to attract biotech businesses that bring well-paying jobs and lucrative tax revenues" are these two stories:

First, a report from the San Francisco Business Times headlined "Biotech companies go on hiring binge: Genentech, Abgenix lead rush as drugs flow through pipeline."

One question overhanging the industry: Where will it find the workers with the skills it needs for the openings it has? Rich Kneece, CEO of Massachusetts Technology Corp., which operates HireBio.com, said the shift in demand to manufacturing will create a challenge for the industry.

"That is a big difference from the past couple of years," he said. "The biggest struggle is the production and manufacturing folks. It's a big question mark."

Kneece thinks one place biotechnology companies might find the employees they need is in breweries, where he said workers need similar skills. That might make the Bay Area's rich collection of microbreweries fertile ground for biotech recruiters -- but then again maybe not.

Abgenix's Withy laughs at the suggestion. "The similarities end with the stainless steel tanks," he said. "Thereafter, it's an entirely different proposition."

Then, this story from the Miami Herald, headlined "Spin-Offs from Biotech Center in Florida Likely to Help Area Economy," that covers a lot of territory, including "the Bayh-Dole Act, enacted in 1980," and our own Eli Lilly & Co.

Posted by Marcia Oddi on March 22, 2004 01:01 PM
Posted to Biotech