This week we attended the 2012 BioOhio Regional Annual Conference for Northern Ohio. This group, which initially began providing technology transfer for Case Western Reserve University in 1987, is celebrating its 25th Anniversary and recently released The 2012 Ohio Bioscience Growth Report.
According to the report, some fun facts about Ohio in general include:
- Ohio is the 7th largest state-home to 11.5 million people;
- Cleveland, Columbus and Cincinnati house approximately half of Ohio’s population;
- Ohio’s GDP is $478 billion. If it was a country, Ohio’s GDP would rank as 27th largest in the world
Some of the bioscience highlights of this report follow:
- 60,600 people are employed by Ohio bioscience companies;
- Bioscience companies can be found in 73/88 Ohio counties:
- 42 % in NE Ohio;
- 18% in central Ohio; and
- 17% in southwest Ohio
- Between 2007 and 2011, on average 76 new bioscience companies began operations annually in Ohio;
- Ohio bioscience companies received almost $2.4 billion in funding in 2011; and
- 3,177 patents were issued to Ohioans in 2011. Of these, 685 were bioscience-related ranking Ohio 8th nationally in bio-related patients
The U.S. Bureau of Labor Statistics has projected 1.5% annual growth in the bioscience industry between 2008 and 2018, making this sector on of the fastest growing in the nation. Currently, Ohio hosts nearly 17% of all clinical trials conducted in the United States. The report further details that, “As of July 2012, a total of 4,096 clinical trials were in progress or actively recruiting patients in Ohio”. In conclusion, the report suggests that Ohio’s bioscience success story can be attributed to its world class research institutes and universities, its high quality education and workforce pipeline and its highly ranked hospitals and medical centers.
If you’re reading this blog chances are that you are part of the bioscience industry in Ohio. Share your experiences. Happy growing and check out the report!
Photo Credit: SeeMidTN