Case studies from states that have already built vibrant bioscience industries can help New Mexico craft a strategy for success.
Georgia provides a good model. In 1990, it established the Research Alliance, a collaboration among businesses, research institutions and the state to build a technology-driven economy. Georgia universities heavily supported this alliance through research and leadership. Presidents from each university sit on the board, along with government and industry leaders.
Georgia is seeing significant returns. From 2007 to 2012, the alliance invested about $30 million in direct funding that resulted in approximately $825 million in total economic value for the state. As of 2012, this strategy has led to the creation of 27,000 jobs in 1,700 companies. Over the past decade 110,000 new bioscience jobs have been created, while economic output grew by more than 17 percent.
In 2015, the Georgia alliance helped to bring Baxalta’s $1 billion pharmaceutical manufacturing center to the state, creating more than 1,500 jobs. Georgia supported Baxalta with a $210 million incentive program, including building a $14 million bioscience workforce-training center next to the company’s new plant.
Georgia proved that collaboration with research universities can be a vital tool. It also showed how important state incentives are for attracting large companies. GrowBio NM believes New Mexico can emulate the best aspects of Georgia’s model to help build its own bioscience industry.