I wanted to share this article from The Washington Post about yesterday’s Biotechnology Industry Conference, where I had the opportunity to speak with life science leaders about the rapid growth of the biotechnology industry in Maryland. This event comes on the heels of my trade mission to Asia, during which a major bio-science firm announced its plans for a $40 million research facility in Maryland.
The exciting growth of this cutting edge industry means thousands of new jobs for Maryland workers. It’s just one instance of manufacturing returning from overseas as companies realize the advantages of making products here in the United States–one of the world’s largest consumer markets.
This isn’t just happening in Maryland. Across the country, Democratic governors are working tirelessly to bring manufacturing jobs back to America. In Kentucky, for example, Governor Steve Beshear is welcoming 1,300 new jobs as General Electric moves a plant that produces water heaters to Louisville from Mexico.
Success stories like these would not be possible without a positive dialogue between business leaders, public officials, and labor representatives.
In Maryland, we introduced the “Maryland Made Easy” program to create an efficient system for business licenses and permits—a solution that cuts the red tape that too often keeps businesses abroad. Other states have similar programs in place to make it easy for businesses to operate in the U.S.
President Obama recently unveiled a wide-ranging manufacturing initiative that encourages partnerships between the private sector and universities, increases federal investment in our workforce, and reduces red tape at the federal level.
We need to grow our manufacturing base in order to create jobs and opportunities in America. Democratic governors across the nation are creating solutions and bringing jobs back home, and we will continuously work to ensure that the United States remains an economic leader for decades to come.
Jobs. Opportunity. Now.,
In Maryland, biotech brings more jobs and higher salaries, report finds
The life sciences sector contributed to one-third of job gains across Maryland between 2002 and 2010, during which time the industry’s average annual salary climbed nearly 50 percent, a state study found.
Democratic Gov. Martin O’Malley released the results Tuesday during a breakfast with the state’s life science leaders at the Biotechnology Industry Organization’s annual conference. The Department of Business and Economic Development crafted the report.
“All of this confirms our growing leadership as a state,” O’Malley said. “It doesn’t happen by itself. It happens because of your work, because of your vision, because of the dedication you put in every single day.”
Other key findings:
Maryland counts roughly 71,600 jobs as a direct result of the life sciences sector, which equates to about three percent of all jobs in the state. Within that statistic are 33,600 private sector jobs, 29,800 federal workers and 8,250 academics.
Those workers earn an average salary of $91,100, which is 76 percent higher than the state’s average salary across all industries. Wages have swelled nearly 50 percent since 2002, when the sector’s average salary was $60,906.
More than 1,700 private sector establishments are directly involved in life sciences work, which the report says ranks as the fifth highest concentration in the nation.
The life sciences industry is responsible for 6 percent of the state’s GDP, or $17.6 billion.