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A Bold New Bioscience Strategy

“We can’t afford to rest on our laurels” was the message County Executive Ike Leggett delivered as he received a bold new bioscience strategy designed to position Montgomery County as a “globally recognized leader in advancing bioscience research and development, and in translating scientific discoveries into commercially available products that benefit human health.” The strategy was developed by the Biosciences Task Force, formed by Leggett in October 2008.

Joining the Executive in the announcement were Montgomery County Biosciences Task Force Chair David Mott, members of the County Council, Montgomery County Department of Economic Development Director Steve Silverman, members of the Task Force, and public and private sector stakeholders from the local biotech community.

The report includes the following five key objectives in addition to some of the priority strategies for each.

  1. Enhance the environment for entrepreneurship and the creation of new life science companies;
  2. Catalyze greater technology transfer and commercialization and leverage Montgomery County’s federal and academic assets more effectively;
  3. Foster a more enabling financial, regulatory and business environment;
  4. Enhance bioscience educational opportunities in Montgomery County and expand the higher education presence in Montgomery County to build a robust biosciences workforce; and
  5. Market Montgomery County’s bioscience sector nationally and internationally.

In 2008, the county’s biosciences industry generated combined revenues of $2.36 billion. It directly employed more than 9,200 workers in the private sector and an estimated 49,000 in federal government agencies. The average private sector biotech salary was $92,945 -- double the countywide average.

More details are in the news release, the full report and on YouTube video.

CATEGORIES: Economy
POSTED AT: Monday, January 04, 2010 | 2:01:00 PM |
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Last edited: 11/8/2010