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The real impact of biotechnology??

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The real impact of biotechnology??

Postby Smith » Mon Nov 22, 2004 4:11 pm

I am a writer looking at writing an article about the effect of biotechnology on economic zones. While there may be a wonderful future painted in much of the media about the future of biotechnology on jobs, careers, etc, none of this has yet translated into a significant economic benefit for a region.

Before I trash a young industry entirely, I'm curious if there are any supporters out there who would believe that I have missed something. Where has the impact of botechnology been felt? Or, is it truly just a way for venture capital companies to "cash in"?

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The real impact of biotechnology??

Postby Dave Jensen » Mon Nov 22, 2004 7:31 pm

You've got to be kidding me . . . Just look at the patients who have been saved by biotech drugs, or the communities which have been revitalized as a result of knowledge workers replacing lost manufacturing jobs. While it isn't going to "save the day" for regions experiencing huge job loss, biotech is certainly one cog in the process.

I think you may just be an internet troll looking for some fun. There is just too much good coming out of biotechnology to question its value to society,

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The real impact of biotechnology??

Postby Paul » Mon Nov 22, 2004 7:36 pm

I think the regeneration of the Kendall Square area of Cambridge is an example of how biotech, as a new and emerging industry, has impacted economically on a region.

When I moved to Boston, more than 5 years ago, Kendall Square was just to be developed after years of being abandoned. Crime rates were fairly high and there were expanses of empty warehouses and industrial properties. Now? Millenium, Biogen, Vertex, Amgen, Novartis...all involved in turning around this area and providing jobs for the community and bringing people into the neighborhood. Local restaurants, hotels, entertainment etc all benefit from the influx of people these companies provide.
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The real impact of biotechnology??

Postby Bill L. & Naledi S. » Mon Nov 22, 2004 11:33 pm

The impact of biotech industry clusters on local economies is not a myth. It's SOOO obvious that it extends to "sub-clusters" such as the fairly remote Warsaw, Indiana, around which several major hip/knee/spine prosthetic device companies (Depuy, Biomet, Zimmer) have grown.

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The real impact of biotechnology??

Postby Dave Jensen » Tue Nov 23, 2004 12:16 pm

The two examples that Paul and Bill brought up are really good ones.

I've just recently returned from Sweden, and the economic benefit of biotechnology on the Southern Sweden (Medicon Valley) region is enormous. This was a farming and rural area without a lot of "knowledge worker" jobs. Now, a decade later, the bridge to Copenhagen and the emphasis on biotech in both of these areas has led to dozens and dozens of successful employers. The entire face of the region is changing, from the "bread basket of Sweden" to the "medical revolution."

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