October 1, 2016
Georgia Trend's Under the Microscope
By Anna Bentley, Georgia Trend
There’s a multibillion-dollar industry growing in Georgia, but it’s been just under the radar so far. Bioscience – a massive sector encompassing pharmaceuticals, medical devices and equipment, diagnostics, biologics and the burgeoning area of digital health IT – generates more than $15 billion in sales for Georgia each year, yet it remains a hidden industry to those outside it.
“People who aren’t in the industry itself are not quite aware of the vibrant community that we have in Georgia,” says Jordan Rose, executive director of the Georgia BioEd Institute, which works to develop Georgia’s workforce, education and leadership in the life sciences. “Most people think about Cambridge, Massachusetts, or San Francisco and San Diego as the hotbeds of biotechnology, but Georgia is a leader in the industry. We have a lot of amazing companies and innovations coming out of this area.”
Thankfully, some are starting to take notice. In its 2015 World’s Most Competitive Cities report, Site Selection magazine named Metro Atlanta the fifth-strongest North American city for life sciences, citing its low cost of living and valuable research centers – and shifting the spotlight a little closer in the process.
Industry Impact
“The biomedical industry is an industry that every state is after,” says Michael Cassidy, president and CEO of the Georgia Research Alliance, an integral player in securing and supporting funding for the state’s research institutions. “The industry is making contributions to our quality of life in very noticeable and measurable ways, and every state wants to be a part of that.”
