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This report presents the estimates of the significant financial contributions of the biotechnology industry to the U.S. economy and to revenues collected by the federal, state and local governments.

The paper provides a basic perspective on trends in biomedical technology and the status and outlook for the biomedical industry. From these basics, it then offers an inventory and perspective on state, regional and university-based economic
development initiatives which are mobilizing to capture the benefits of the second wave of biotechnology innovation, and observations about the best practices and models emerging around the country.

The report examines health science biotechnology as a subsector of life sciences. The purpose of the analysis is to determine the bioscience sectors impact on Missouris economy.

The Battelle Memorial Institute prepared the strategic plan to help position St Louis as an international center for plant sciences and a major international center in life sciences. The set of strategies builds on the regions assets by strengthening its research base, finding innovative ways to turn science into technology as well as commercializing technology in both existing and new entrepreneurial firms.

The Michigan Economic Development Corporation report outlines a plan to develop its universities, industries, and infrastructure to nurture biotechnology entrepreneurship over the next decade. Specific policy recommendations are presented across four broad vision strategies for Michigan.

The State of Hawaiis strategy to stimulate the biotechnology industry in the state is based on public-private partnerships. The partnership will depend on actions between industry, government, and the educational system. Four specific strategies for Hawaii are highlighted, and include: encouraging entrepreneurship, public sector initiatives, public-private partnerships in technology transfer, and developing a biotechnology curriculum.

The authors examine the relationship between the intellectual capital of scientists making frontier discoveries, the presence of great university bioscience programs, the presence of venture capital firms, other economic variables, and the founding of U.S. biotechnology enterprises during 1976-1989.

As part of the series of studies assessing the U.S. competitive position in different industries, the report on the U.S. biotechnology industry discusses the structure of the industry and the current and emerging markets for biotechnology products. It also discusses in detail the factors likely to be critical in determining the future competitiveness of the industry.