Maryland Dept. of Business & Economic Development- Maryland: Globability
Area Development Online Research Desk (Biotech Location Guide 2008)
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-nine publicly traded companies are headquartered in Maryland with a market capitalization of approximately $6 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 United States with an almost 8 percent share of the nation's biotechnology industry. Maryland has been ranked first among the states in federal intramural research, second in research and development intensity, second in biopharmaceutical innovation, and second 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 rank of first nationally for its concentration of professional and technical workers (25 percent).
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 of Maryland has invested more than US$670 million in bioscience infrastructure, including companies, research parks, and life sciences institutes. The Maryland Venture Fund is once such example, with 35 emergent bioscience companies in its investment portfolio. Maryland academic institutions receive approximately $1.7 billion from NIH annually in R&D grants and contracts. 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. Maryland has the key ingredients needed for bioscience growth -research vitality and the ability to convert that research into commercial success. Join our industry partners to ensure you can realize Maryland's "globability."Maryland Biosciences Group
Maryland Department of Business & Economic Development
217 E. Redwood St., 12th Floor
Baltimore, MD 21202