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Top Metro Areas
In June 2004, the Milken Institute released a comprehensive study which used 44 different measurements -- from biotech venture capital funding to the number of biotech scientists working in the region -- to determine the top 12 metros for biotechnology. San Diego tops the list, followed by Boston, Raleigh-Durham-Chapel Hill, San Jose, Seattle-Bellevue-Everett, Washington, D.C., Philadelphia, San Francisco, Oakland, Los Angeles-Long Beach, Orange County, Calif., and Austin-San Marcos. Those who made the list have capitalized on their specific area's biotech knowledge and creativity, such as the quality of the work force and the amount of R&D dollars received, the report found.
Six of the top 12 biotech metros are in California. A recent study by the California Healthcare Institute (CHI) and PricewaterhouseCoopers further demonstrates California's powerhouse strength. The state is home to 2,600 companies, and 87 university and private research institutions.
"The future of biomedical R&D is extremely promising; 60 percent of firms surveyed expect to expand R&D in California within the next two years," remarked David Gollaher, president and CEO of CHI, in an announcement.
Other communities and states across the country are putting into motion unique strategies and assets to attract even more biotech companies to their areas. Here's a closer look at some of the nation's biotech hot spots, and why they have become so popular with biotech firms.
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Truro-Colchester
Region...Where Business Moves
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