SALT LAKE CITY--(BUSINESS WIRE)--Since 2012, Utah’s life sciences community has grown faster than any other in the country. Through collective efforts of the more than 1,100 life sciences-related companies (and growing), it intends to continue that trend and join the short list of the world’s preeminent life sciences hubs.
“We are really excited about introducing this branding initiative we call BioHive,” commented Kelvyn Cullimore, president and CEO of BioUtah. “This initiative, with industry, government, academic, and economic development partners, will allow us to really shine a bright light on our life sciences industry’s efforts, growth, and innovation.”
BioUtah, Utah’s independent life sciences trade association, has helped form BioHive, an industry branding initiative to bring cohesion within the broader industry and showcase the crucial innovations and contributions of the industry collective that boosts our state’s economy and helps patients around the globe.
The initiative is made possible due to partnering with other agencies and companies interested in promoting the life sciences in Utah. Those partners include, Governor’s Office of Economic Development, Economic Development Corporation of Utah, Office of Salt Lake City Mayor Erin Mendenhall, World Trade Center Utah, Recursion Pharmaceuticals, PIVOT Center at the University of Utah, Cibus Biotechnologies, IONIQ Sciences, Stryker, LineLogic, and many others.
Katelin Roberts, CEO of LineLogic and interim Director of BioHive, points out that these accomplishments are nothing new because Utah has a long and proud tradition of healthcare innovation.
“We have attracted world-class scientists, researchers, and engineers to Utah for the last 65 years,” Roberts explains. “Utahns have changed millions of lives through better patient outcomes with life-saving catheters, advancements in surgical imaging, and now we are leveraging new technologies for novel drug discovery and therapeutics.”
Building on this legacy, BioHive now serves to give expression to the efforts of the state’s researchers, developers, and manufacturers of therapeutics, devices, and diagnostics, as well as laboratory facilities, healthcare delivery systems, digital health, health IT, and businesses that support these industries. By collaborating through BioHive, these businesses create a rising tide that lifts all boats.
Utah’s life sciences industry employs 43,000 people directly and 88,000 indirectly, for a total of more than 130,000 (among the nation’s highest concentration). These dedicated experts are paid an average wage almost 50% higher than Utah’s average.
Here’s a quick look at how BioHive stacks up against the rest of the best:
- World leader in genetic research
- Nation’s fastest-growing life sciences community since 2012
- 2nd in the nation for medical device employment concentration
- 6th in the nation for per capita VC investments
- 538 bioscience-related patents in 2019
- $13 billion direct and indirect GDP from industry
- Accounts for 8% of Utah’s total GDP
- Contributes to Utah’s nation-leading export growth rate
It takes infrastructure to power a collective like this, which Utah has built in spades. With lab space, assets, shipping, receiving, regulatory groups, supportive local governments, and a strong trade association in BioUtah, we are uniquely positioned for national leadership. And the positive impacts are increasingly felt right here in our own backyard.
“For me, it’s about creating local jobs that will last,” says Spencer Cox, Utah’s lieutenant governor. “The tech sector in Utah has been enormously successful, but sometimes we forget to talk about the deep tech sector. By bringing the focus of the government, other industries, and our young people to this industry, we will help create jobs for future generations.”
The future is certainly bright for BioHive. The collective has bold plans to highlight recruitment, raise capital, foster diversity, promote the industry, and continue developing the workforce. We invite you to partner with us in the cause. Changing the world never happens overnight, but when we work together, we can make it a bit better every day.