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Bioscience research and enterprise fuel Alabama’s economic engine. A few key facts highlight this community’s importance and impact on the state: 1) diversity of establishments and workforce as demonstrated by an evenly distributed workforce between the five industry subsectors; 2) National Institutes of Health (NIH) funding per capita with Alabama ranking third among our peer states in the Southeast; and 3) supportive and business friendly environment with access to economic development incentives designed to fuel growth, access to collaborative university and research partners, and access to incubators and accelerator programs.
The below strategic economic development plan examines the core strengths of Alabama’s bioscience industry and explores opportunities to catalyze continuous, inclusive growth. BIO Alabama’s Board and Committee Chairs, along with the “voice of industry,” propose recommendations in three focus areas: 1. startup and technology transfer; 2. workforce development; and 3. business attraction and retention.
Alabama's bioscience industry reaches into so many communities around our state. From capital investments to research & development, Alabama's bioscience industry is critically important to our state and we are proud to work closely with partners like The Department of Commerce and the Economic Development Partnership of Alabama - EDPA to help ensure the future of the industry and its role as an economic driver. Small- and mid-sized companies play a significant role in our bioeconomy and the Alabama bioscience community has responded rapidly to the COVID-19 pandemic.
The Biotechnology Innovation Organization (BIO) released new data on the bioscience industry in the United States. The new report, The Bioscience Economy: Propelling Life-Saving Treatments, Supporting State & Local Communities, analyzes the bioscience industry’s economic footprint across the nation and in Alabama.
The state-by-state industry assessment is the ninth in a biennial series, developed in partnership by TEConomy and BIO, and studies the state of the U.S. bioscience industry and its associated innovation ecosystem at the national, state, and metropolitan area levels.
The analysis includes a fact sheet for Alabama, which can be found via the interactive map at www.bio.org/jobs.