Ohio Maintains #4 Ranking in Overall Biotechnology Strength

COLUMBUS, Ohio--(BUSINESS WIRE)--In Business Facilities Magazine’s recently released 2009 Biotechnology Strength Report, Ohio is once again ranked fourth among all states. The report can be viewed at www.businessfacilities.info/special-report/state-biotechnology-strength.php.

“Our most recent Ohio Bioscience Growth Report, published last winter, cites more than 1,100 bioscience-related organizations operating in the state, and from 2004 to 2008, an average of 70 new bioscience companies began operation within our borders each year”

California claimed top ranking, followed by Massachusetts, Pennsylvania, and Ohio. Maryland, Texas, New Jersey, Illinois, Kansas, and North Carolina rounded out the top 10.

The publication’s ranking criteria included state R&D funding and venture capital investments, concentrated occupational employment in biotech, bioscience-targeted tax exemptions, number of biotech facilities, biotech patents generated, university grant funding, and bioscience higher education degrees, among other factors. Business Facilities uses the terms biotechnology and bioscience interchangeably.

A point scale was applied, according to the report’s authors, giving special credit to states that “walked the walk, as well as talked the talk,” when it came to funding biotech initiatives. States that actually invested in biotech facilities and/or had the highest employment concentration in more than one biotech subsector were rewarded with additional points. New to this year’s report, authors factored in estimates of overall economic impact of state biotech industries, biotech incentives, expansion of academic research programs, major initiatives announced in the past year, growth potential based on state funding commitments and employment numbers.

The report’s authors concluded that “the still-hot biotech sector has cemented its status as a crucial building block for future growth.”

“That is certainly true in the State of Ohio,” said BioOhio President & CEO Tony Dennis. BioOhio is the state’s bioscience development and membership organization charged with advancing Ohio’s bioscience impact locally and globally.

“Third Frontier Project investments in innovation and technology, especially in the biosciences, really have catalyzed growth in both public and private sectors of our state’s emerging industries.”

“Our most recent Ohio Bioscience Growth Report, published last winter, cites more than 1,100 bioscience-related organizations operating in the state, and from 2004 to 2008, an average of 70 new bioscience companies began operation within our borders each year,” he said.

Dennis also pointed to a venture capital report published by BioEnterprise, a BioOhio regional affiliate in Cleveland. According to the Midwest Health Care Venture Investment Report, Ohio healthcare-related companies attracted $189 million in 2008, second-most in the Midwest.

In a May 2009 study published by BIO and Battelle, Ohio was placed among the top 8 states in middle and high school bioscience education quality.

Last year Business Facilities adjusted their rankings methodology to reflect the diversity found in state bioscience-focused initiatives. Using government statistics and the latest State Bioscience Initiatives Report from the Biotechnology Industry Organization (BIO) and Battelle, as a starting point, they identified more than 20 key criteria that have been applied to rank overall biotechnology strength.

Business Facilities magazine has established itself as a leading full-service media brand specializing in the site selection marketplace. Through a monthly magazine, e-mail newsletters, a news portal, and its LiveXchange event, Business Facilities has created a dynamic community for C-level executives and economic development organizations.

BioOhio (formerly Omeris) is a non-profit organization supported by the Thomas Edison Program of the Ohio Department of Development. Its mission is to accelerate bioscience discovery, innovation and commercialization of global value, driving economic growth, and improving quality of life in Ohio. BioOhio is headquartered in Columbus, with regional business development affiliates in Cleveland, Columbus, Cincinnati and Athens.