Biotech in general and genomics in particular is often flagged as one of the key industries to generate new economic growth and to diversify regional economies. It sounds like a good idea and many cities and regions around the world are getting in on the action. Apart from trying to attract established biotech companies and start-ups, another big challenge is judging the success and impact of the efforts.
San Diego is home to many large biotech players such as Illumina, and it is generally accepted that the region is a biotech and genomics hub. But it wasn't something that had been measured and quantified in-depth.
The San Diego Regional Economic Development Corporation did just that with a focus on the genomics industry, and the results
of the study were rel
eased at the BIO convention this week.
Among the study's findings were:
- San Diego’s genomics industry has a $5.6 billion annual economic impact, impacting 35,000 jobs in 2016
- Among top life sciences U.S. metros, San Diego’s genomics industry ranks #2 overall, #3 in innovation, #2 in talent, and #4 in growth
- From 2014 to 2016, San Diego generated 371 genomics-related patents. Collectively, 28 local firms generated 120 genomics-related patents in 2016
- San Diego is 3.1x more concentrated than the U.S. in key genomics occupations.
- From 2011 to 2016, San Diego’s genomics talent pool grew by 11 percent, far outpacing the national growth rate of 5.1 percent.
I couldn't make it to BIO 2017 in San Diego but I did get an opportunity to talk with Kirby Brady on the phone. She is the Director of Research for San Diego's Regional Economic Development Corporation.