Maryland continues to offer a “comprehensive set of efforts” to nurture bioscience industry growth, according to an April 2006 report from Battelle Technology Partnership on state bioscience initiatives.
The report cites significant state government budgeting for capital expenditures, tax policy changes, and the development of two new bioscience parks in Baltimore City. It notes that tax policy changes made since 2004 include reauthorization of the research and development tax credit and passage of a tax credit for biotechnology investment.
The report is posted on the GBC’s Bioscience Connector Web site. Supporting growth of the bioscience industry in the Baltimore region is one of the Greater Baltimore Committee’s top strategic priorities.
The Baltimore region ranks 11th in the U.S. for employment in the research, testing and medical laboratories sector. The region ranks 16th for employment in the drugs and pharmaceuticals sector, according to the report.
Other findings in the report include:
- Total biosciences employment in the U.S. reached 1.2 million in 2004;
- Each bioscience job generates 5.7 additional jobs in affiliated industries;
- States are spending billions of dollars to support bioscience development with research funds and for construction of academic and medical facilities.
Other reports from the GBC Bioscience Connector Web site