Office of Program Policy Analysis and Government Accountability
Office of Program Policy Analysis and Government Accountability

Florida's Biotechnology Industry Is Expanding; Cluster Growth Continues to Slowly Progress

Report 13-06, March 2013

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Report Summary

  • As of December 31, 2012, seven of the eight biotechnology research entities funded by the Innovation Incentive Program reported creating 806 jobs and making significant investments in scientific equipment.
  • Although Florida's biotechnology employment declined over a three-year period, the number of businesses and average wages increased. Between 2008 and 2011, the number of businesses grew by 20.1% and average wages increased by 15.5%. In addition, the state's employment growth in the biotechnology research and development sector outpaced growth rates in the nation and other comparison states.
  • The state's biotechnology clusters continue to slowly grow, with the industry's research and development sector demonstrating the most growth. The six counties where innovation incentive recipients are located experienced varying rates of business and employment growth, with Orange, Palm Beach, and St. Lucie having the largest increases in research and development employment. In all six counties, our analysis showed that incentive recipient presence positively affected employment growth.
  • The state's investment has helped build a strong research and development foundation. According to stakeholders, Florida's next challenge is to help foster an environment that translates discoveries into marketable products. Fostering such an environment includes providing start-up company assistance, supporting the development of incubators and laboratories, offering programs that encourage entrepreneurship, and developing a statewide biotechnology marketing plan.

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Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
economic development, biotechnology, venture capital, clusters, research and development, research institutes, biomedical, location quotient, life sciences, technology transfer, research commercialization, collaboration, high-wage, start-up, spin-off, workforce, incentives, pharmaceutical and medicine manufacturing, medical devices, job creation, capital investment, local match