Maryland: The Competitive Advantage
Area Development Online Research Desk (Biotech Location Guide 2007)
Maryland is home to more than 370 bioscience companies conducting innovative biopharmaceutical discovery; developing new medical devices, diagnostics, and research tools; and breaking new ground in bioinformatics utilization. More than 45 Maryland companies are currently conducting more than 150 clinical trials on promising therapeutics. Others are creating gene-based diagnostics and innovative technology platforms. Twenty-four publicly traded companies are headquartered in Maryland with a market capitalization of approximately $16 billion. These companies are in close proximity to the National Institutes of Health (NIH), the U.S. Food and Drug Administration (FDA), the National Institute of Standards and Technology (NIST), and numerous other federal agencies and institutes conducting life sciences research - all rich opportunities for partnering and collaboration.
As such, Maryland is one of the fastest-growing bioscience clusters in the U.S. with an almost 8% share of the nation's biotechnology industry. Maryland has been ranked 1st among the states in federal intramural research, 2nd in research and development intensity, 2nd in biopharmaceutical innovation, and 2nd globally for initiatives aimed at drawing and retaining biotechnology companies.
With more than 34,000 bioscience private sector employees, and a comparable number in university and federal research institutions, Maryland's superior work force quality and availability are the direct result of two decades of funding and initiatives aimed at educating our work force for the 21st century. This is reflected by Maryland's ranking 1st nationally for its concentration of professional and technical workers (25%).
The Maryland Department of Business & Economic Development (DBED) is responsible for nurturing and supporting the state's thriving bioscience industry. Over the past decade, the state has invested more than $650 million in bioscience infrastructure, including companies, research parks, and life sciences institutes. The Maryland Venture Fund is one such example, with 35 emergent bioscience companies in its investment portfolio. Maryland academic institutions receive approximately $1.7 billion from NIH annually for research and development. These include Johns Hopkins, the University System of Maryland, and the University of Maryland Biotechnology Institute (UMBI).
This level of innovation makes Maryland a major hub for cutting-edge discoveries in all areas of bioscience. Few locations can offer the concentration of strategic assets found in Maryland. The state has the key ingredients needed for bioscience growth - strong research and the ability to convert that research into commercial success. Join our industry partners to ensure you can realize Maryland's "competitive advantage."The Bio Team
Maryland Department of Business and Economic Development
217 E. Redwood St., 12th Floor
Baltimore, MD 21202