Biotechnology in Ventura County Study says biotech jobs set to grow By Paul Elias Associated Press An industry-sponsored study of the drug-making industry being released today expects employment growth over the next decade in a sector that is among the highest salaried and productive in the nation. Because of this, many state and local governments are trying to lure the drug manufacturing to their areas to boost sagging economies. "The industry is very critical to the future of the economy," said Milken Institute economist Perry Wong, who co-wrote the report paid for by the Pharmaceutical Research and Manufacturers of America, known as PHRMA http://www.phrma.org/ . "It's one industry that is high in growth potential. It is very unlikely to have jobs outsourced." The report said jobs in the combined industries of biotechnology and pharmaceuticals are expected to grow . . . . . See bottem of this page A Link to Amgen in Thousand Oaks, Ventura County as the world's largest biotechnology company, Amgen discover, develop, manufacture and market therapies upon which thousands of people rely. And thousands of highly committed individuals from across the professional spectrum are involved in the complex, multifaceted process that takes an idea out of the laboratory and bring it, in the form of a needed therapy, to patients. A Link to Baxter BioScience is a fast-paced technology-driven company that provides its employees with opportunities for professional growth, as well as the flexibility to achieve a balance between work and personal life. A Link to Aerotek Scientific is committed to finding and placing scientific professionals in the Biotech, Pharmaceutical, Chemical, Healthcare, Government, Consumer Products and Medical Device Industries. Aerotek Scientific specializes in recruiting and placing qualified professionals within the scientific and clinical research communities for contract, contract-to-hire and permanent positions in the industry's leading organizations. A Link to Venture Coast Biotechnology Institute (VCBio) serve the communities surrounding the 101 biotech corridor from Santa Barbara to Pasadena in Southern California. The Mission is to promote the development of biotechnology. VCBio is a non-profit organization that sponsors educational seminars, business development, scientific outreach and networking opportunities for professionals in the biotech industry. Our Volunteers and Sponsors are leaders in science, business, education, government and finance, representing all apsects of the local biotech Community. A Link to a Report of Biotechnology in California and Ventura County A Link to BIOCOM is a premiere life science industry association representing more than 450 member companies in San Diego and Southern California. The association focuses on initiatives that positively influence the growth of the life science industry, including capital formation, public policy, workforce development, and scientific discovery and development. see Search the BIOCOM Member Database October 2004 Study says biotech jobs set to grow By Paul Elias Associated Press An industry-sponsored study of the drug-making industry being released today expects employment growth over the next decade in a sector that is among the highest salaried and productive in the nation. Because of this, many state and local governments are trying to lure the drug manufacturing to their areas to boost sagging economies. "The industry is very critical to the future of the economy," said Milken Institute economist Perry Wong, who co-wrote the report paid for by the Pharmaceutical Research and Manufacturers of America, known as PHRMA http://www.phrma.org/ . "It's one industry that is high in growth potential. It is very unlikely to have jobs outsourced." The report said jobs in the combined industries of biotechnology and pharmaceuticals are expected to grow 11 percent from 406,700 workers last year to 536,300 within 10 years. The number of jobs related directly to drug making only accounts for .32 percent of the total work force. In contrast, Wal-Mart itself employs 1.4 million workers. But the study said drug-making jobs are more valuable because they are much higher paying and result in creating more indirect jobs. The study concluded that every biotech job creates another 5.7 jobs in other industries. Every retail job accounts for an additional 0.9 jobs, according to the report. Also, the average wage in the industry -- which the report dubs as "biopharmaceutical" -- was nearly $73,000. "These are good jobs and good wages," said PHRMA chief executive Alan Holmer. That's why governors such as Florida's Jeb Bush and mayors such as San Francisco's Gavin Newsom are offering the industry tax breaks, free land and other financial incentives to relocate. According to another report prepared for the Biotechnology Industry Organization and released at its annual convention in June, at least 29 states have formal plans to woo the biotechnology industry, and many, like Pennsylvania, are using money gained from the global tobacco settlement to fund biotechnology development projects. Six governors made the trek to the June BIO conference, and dozens of states and cities have colorful booths on the convention floor. But some economists warn that drug manufacturing is still a tiny industry dominated by a few big companies and highly concentrated in a few regions of the country. Drug companies like to "cluster" around universities and each other so they can easily swap -- and steal -- technology and scientists, making it difficult for regions to launch a biotechnology industry from scratch, said Joseph Cortright, a Portland, Ore., economist who co-wrote a report on the subject. "This is an industry that is very tightly sequestered in a few metropolitan areas, and it's becoming more highly By Paul Elias Associated Press |
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