No other U.S. Life Sciences cluster can equal Greater Philadelphia's ability to support the development and commercialization of Life Sciences products. In a single region, you, as a pharmaceutical and biotechnology leader, can find what you need to bring your discoveries to market.
Greater Philadelphia is home to:
- Four times the national concentration of pharmaceutical manufacturing facilities.
- Academic research, global pharmaceuticals, mature biotech, emerging biotech and device and diagnostic companies.
Support services and infrastructure, including financing, legal and business advice, sales and marketing expertise. Over 3,400 life science degrees awarded in Greater Philadelphia in 2005/06. Funding sources (Venture Capital, state and federal, angels, non-profits, banks). State-of-the-art labs, incubators and science/technology centers including wet labs, clean rooms and cGMP certified facilities. Technology transfer, licensing and commercialization opportunities. Close proximity to regulatory agencies in Washington, D.C. and financial capitol, NYC. Manufacturing capabilities. Access to top teaching and specialized hospitals. Top rankings in the 2009 Milken Report due to a strong blend of established pharma, research infrastructure, world-renowned universities, emerging startups, workforce, and support network for entrepreneurs. The recently released 2009 Milken Report Ranks the Greater Philadelphia Life Science Cluster 2nd in the Overall Composite Index in the U.S. and 1st in the Current Impact Composite Index.
Life Sciences, as defined in the 2009 Milken Report, encompasses six major industries: pharmaceuticals, biotechnology, life sciences R&D, medical devices, health-care services, and supporting industries.
The Overall Composite Index
- Provides a comprehensive measure of how Greater Philadelphia is positioned against what 2009 Milken Report calls "Elite Clusters in the United States."
- Utilizes the Current Impact, the Innovation Pipeline and the Small Business Vitality Indices to arrive at an overall result.
- Greater Philadelphia moves up to 2nd place in the Overall Composite Index with a score of 97.7, up from 3rd place in Milken's 2005 analysis.
| Overall Composite Index for Life Sciences, 2007 |
| Rank |
Metro Area |
Current
Impact
|
Innovation
Pipeline
|
Small
Business
Vitality
|
Overall
Composite
Index Score
|
| 1 |
Boston |
91.3
|
100.0
|
87.4
|
100.0
|
| 2 |
Greater Philadelphia |
100.0
|
91.7
|
63.9
|
97.7
|
| 3 |
Greater San Francisco |
80.7
|
93.2
|
91.1
|
92.1
|
| 4 |
Greater New York |
92.7
|
85.2
|
72.2
|
92.0
|
| 5 |
Greater Raleigh-Durham |
79.7
|
87.4
|
85.0
|
88.2
|
| 6 |
Greater Los Angeles |
79.0
|
81.7
|
100.0
|
86.8
|
| 7 |
Chicago |
76.4
|
77.0
|
69.5
|
80.1
|
| 8 |
San Diego |
66.9
|
79.5
|
87.4
|
78.7
|
| 9 |
Minneapolis |
72.2
|
80.5
|
54.3
|
78.2
|
| 10 |
Washington, D.C. |
63.3
|
76.3
|
80.5
|
74.8
|
| 11 |
Seattle |
53.5
|
80.2
|
54.5
|
69.2
|
| |
Weights |
0.45
|
0.45
|
0.10
|
|
|
|
| |
The Current Impact Composite Index
- Analyzes the economic impact and growth of the life sciences industry.
- Greater Philadelphia ranks 1st in the Current Impact Composite Index, increasing our lead over Greater New York to 7 points, after holding a slim lead of only 0.3 in 2005.
- Greater Philadelphia's strengthened position is attributable to advances in biotechnology R&D and continued top-tier performance in health care services and life-science-supporting industries.
- Improved access to pre-seed, seed and early stage risk capital is helping to elevate our region's status in biotechnology.
|
| Current Impact Composite Index, 2007 |
| Rank |
Metro Area |
Therapeutics
and devices
|
Supporting
Industries
|
Health-care
Industries
|
Composite
Score
|
| 1 |
Greater Philadelphia |
100
|
100
|
81
|
100
|
| 2 |
Greater New York |
88
|
76
|
100
|
93
|
| 3 |
Boston |
99
|
67
|
61
|
91
|
| 4 |
Greater San Francisco |
86
|
74
|
49
|
81
|
| 5 |
Greater Raleigh-Durham |
88
|
63
|
44
|
80
|
| 6 |
Greater Los Angeles |
82
|
67
|
61
|
79
|
| 7 |
Chicago |
79
|
67
|
58
|
76
|
| 8 |
Minneapolis
|
77
|
71
|
42
|
72
|
| 9 |
San Diego |
74
|
51
|
36
|
67
|
| 10 |
Washington, D.C. |
62
|
39
|
68
|
63
|
| 11 |
Seattle |
55
|
31
|
50
|
54
|
| |
The Innovation Pipeline Index
- Facilitates the industry's technological advances and production within Greater Philadelphia.
- Measures include R&D capacity, risk capital and entrepreneurial infrastructure, human capital, workforce and innovation output.
- Greater Philadelphia remains in 3rd place in the Innovation Pipeline Index, maintaining our 2005 ranking, but closing the gap with Greater San Francisco.
|
| Innovation Pipeline Index |
| Rank |
Metro Area |
Composite Index 2007 |
| 1 |
Boston |
100.0 |
| 2 |
Greater San Francisco |
93.2 |
| 3 |
Greater Philadelphia |
91.7 |
| 4 |
Greater Raleigh/Durham |
87.4 |
| 5 |
Greater New York |
85.2 |
| 6 |
Greater Los Angeles |
81.7 |
| 7 |
Minneapolis |
80.5 |
| 8 |
Seattle |
80.2 |
| 9 |
Sam Diego |
79.5 |
| 10 |
Chicago |
77.0 |
| 11 |
Washington, D.C |
76.3 |
|
| |
Small Business Vitality Index
- Greater Philadelphia shows moderate growth in the Small Business Vitality Index, placing 9th overall, despite strengths in pharmaceutical industry and small firms.
|
| Small Business Vitality Index, 2007 |
| |
| Rank |
Metro Area |
Therapeutics
and Devices
|
Health-
care
services
|
Life Science
Supporting
|
Small
Business
Vitality Index
|
| 1 |
Greater Los Angeles |
100
|
100
|
95
|
100
|
| 2 |
Greater San Francisco |
98
|
74
|
68
|
97.7
|
| 3 |
San Diego |
90
|
81
|
79
|
92.1
|
| 4 |
Boston |
92
|
69
|
85
|
92.0
|
| 5 |
Greater Raleigh-Durham |
88
|
71
|
85
|
88.2
|
| 6 |
Washington, D.C. |
90
|
63
|
42
|
86.8
|
| 7 |
Greater New York |
68
|
87
|
68
|
80.1
|
| 8 |
Chicago |
61
|
82
|
98
|
78.7
|
| 9 |
Greater Philadelphia |
61
|
55
|
100
|
78.2
|
| 10 |
Seattle |
51
|
46
|
91
|
74.8
|
| 11 |
Minneapolis |
61
|
36
|
42
|
69.2
|
Other 2009 Milken Report findings include that Greater Philadelphia:
- After accounting for the ripple effects, the life sciences cluster was responsible for generating 380,000 jobs, $20.2 billion in earnings, and $39.7 billion in output in 2007.
- 15% of all economic activity and one out of every six jobs can be traced to life sciences.
- Life science sector generated $7.7 billion in earnings and $17.5 billion in output or gross metro product (GDP) in 2007.
Call Select Greater Philadelphia's Business Development Team at 800-221-0774 to learn more about our region's life sciences workforce, academic links and educational initiatives.
|
