BIO Blog: National report has good news for Wisconsin's biotech industry
Wisconsin's biotechnology industry is still small but is one of the nation's healthiest, growing faster than any other state during the recession, according to a new report released today on the economic health of the nation's biotech industry.
The annual Battelle/BIO State Bioscience Industry Development report released today at the BIO International Convention in Boston showed that, nationwide, the sector added 96,000 jobs over the past decade, indicating the importance of the biosciences as an economic driver for the nation. But in most states that growth lagged, or even dropped during the recession in 2008.
The report's state-by-state analysis of the bioscience industry showed Wisconsin was an exception. When Wisconsin's economy followed the rest of America into a recession, Wisconsin's biosciences and medical device manufacturers continued to grow.
In fact, the growth of the biotechnology sector compared to the rest of the state's economy "was the widest spread in the country," said Lisa Johnson, vice president for entrepreneurship and innovation at the Wisconsin Economic Development Corporation. "That's a strong statement. It shows that our biotechnology industry isn't just growing, it's also diverse."
"Our biotechnology industry is broader than most, so we're not as reliant as other states on single industries such as pharmaceutical manufacturers," added Tom Still, president of the Wisconsin Technology Council. "We have our eggs in a lot of baskets."
See full coverage of Wisconsin's presence at this year's BIO Convention in the WisBusiness BIO Blog: