IEDC article: Supporting the SEP Life Sciences Industry

In Southeastern Pennsylvania, the concentration of life sciences activities is an even more important contributor to the regional economy through its research institutions, and pharmaceutical and biotechnology (biopharmaceutical) companies. With basic research, supported by over $1 billion in R&D funding in 2011 to the $250M in venture capital to the region also in 2011, collectively, the region’s life science community ranks with Boston and Silicon Valley as a powerhouse of innovation and now accounts for 15 percent of the economic activity and one in six jobs in the Greater Philadelphia region (Milken Study, 2009; Greater Philadelphia 2012 Regional Report, Select Greater Philadelphia).