New Report Explores Latest Best Practices in State Bioscience Economic Development Initiatives

June 6, 2023 | Today, the Biotechnology Innovation Organization (BIO), in partnership with the Council of State Bioscience Associations (CSBA), released a new report on the best practices in state bioscience economic development measures, “ The U.S. Biosciences Industry in the States: Best Practices in Innovation, Partnerships, and Job Creation.”

The report, now in its seventh edition, analyzes the latest legislative and regulatory economic development initiatives at the state and regional level that help support the bioscience sector.

“At every level of government, public policy has a profound impact on the bioscience ecosystem and its ability to innovate and grow,” said Rachel King, President and CEO of BIO. “This report provides an in-depth guide for how state policymakers can help foster a strong bioscience economy, fuel job creation, and drive an innovative economy in their state.”

The report reviews public policy initiatives in all 50 states and spotlights noteworthy programs that enhance the future of the bioscience industry. In addition to several specific state policy examples, the report identified four national trends that helped retain and grow the bioscience sector at the state level in 2023:

  • Building career pathways for future biosciences talent is crucial.
  • States and regions are addressing their regulatory climate to ensure predictable and stable regulatory treatment of biosciences firms.
  • Utilization of innovative technology-based economic development tax support strategies is on the rise.
  • Universities and research centers continue to be strong partners in pre-commercialization research and technology transfer.

“BIO and CSBA’s new report serves as a roadmap for economic development in the biosciences industry, showcasing proven strategies and innovative practices implemented by states across the US,” said John Conrad, Board Vice Chair of CSBA and President and CEO of Illinois Biotechnology Innovation Organization (iBIO). “Illinois, in particular, has made significant strides in implementing economic incentives to drive growth in the state’s bioscience sector, generating high-quality jobs, and fostering an entrepreneurial ecosystem that remains essential to the industry’s future success.”

“This report confirms the vital role U.S. biosciences companies have in creating jobs and stimulating the economy, and illustrates the continuation of the increasingly-supportive role that state and regional policymakers are playing in company retention and expansion in their locations,” said Pete Pellerito, BIO Senior Policy Adviser and principal author of the report.

The full report is available at  bio.org/bestpractices.

The report will be discussed at the BIO International Convention during a session on Tuesday, June 6 at 3:00 pm ET. For more information, visit  here.

GLS 2025 Year in Review

December 22, 2025
Dear Georgia Life Sciences Community, As we reflect on the past year, I want to extend my sincere thanks to our Georgia Life Sciences members for making it such an impactful one. Your engagement and leadership continue to move our industry forward and advance our shared strategic priorities— driving strong policy, expanding the talent pipeline, and creating intentional spaces for collaboration across Georgia’s life sciences ecosystem. Our Year in Review captures the progress we’ve made together across these priorities and highlights the collective impact our members are having statewide—from strengthening the workforce and supporting manufacturing growth to elevating Georgia’s position as a national life sciences leader. This progress is only possible because of the collaboration, commitment, and insight of our member community. 

Investing in America’s Biopharmaceutical Infrastructure Strengthens the Economy and Supports Union Workers

By Maria Thacker Goethe • December 20, 2025
The biopharmaceutical industry is growing America’s manufacturing and R&D capabilities to develop the next generation of treatments. A recent study from PILMA quantified the impact of the industry’s investment in American infrastructure on the economy and union workforce across 18 states from 2019-2024. The study found that across the 18 states included, the biopharmaceutical industry: Supported the American economy by investing $86.5B in R&D and manufacturing infrastructure and developing 1000+ construction projects at over 700 distinct facilities. Strengthened the American workforce by generating $2.6B in skilled union wages and providing $19M in support for union apprenticeships. The impact of the biopharmaceutical industry’s investment in American manufacturing and union jobs extends beyond direct benefits, spurring additional economic activity in the communities where workers live. This is known as the multiplier effect . On average, every $1 of new investment in a U.S. biopharmaceutical manufacturing facilities generates an additional $1.59 in further economic activity (2.59x times the initial investment value). The industry’s $86.5B investment in R&D and manufacturing infrastructure has a total economic impact of $224B. Check out this resource to learn more about how biopharmaceutical investment in American infrastructure supports America’s workers and communities. For more on how biopharmaceutical companies are investing in America’s future, visit innovation.org/america-investment .

Georgia Life Sciences Joins National Coalition Urging Congressional Action on Key Innovation Policies

December 10, 2025
Georgia Life Sciences has joined 43 state and regional life sciences organizations in signing a national Council of State Bioscience Associations (CSBA) letter calling on Congress to take immediate action on three bipartisan policy priorities that are essential to sustaining U.S. leadership in biomedical innovation and supporting patients nationwide. With Congress back in session and several critical programs at risk of expiring, the letter urges congressional leaders to advance the following provisions without delay: 1. Reauthorize the Rare Pediatric Disease Priority Review Voucher (PPRV) Program The PPRV program has been instrumental in incentivizing the development of therapies for children with rare and life-threatening conditions. Its lapse threatens to slow or halt research that families across the country are counting on. 2. Extend the SBIR/STTR Programs The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide crucial early-stage capital for emerging biotech and medtech companies—many of them in Georgia. Without reauthorization, hundreds of innovative small businesses face uncertainty, jeopardizing new therapies, diagnostics, and technologies in the pipeline, 3. Advance PBM Transparency Reforms Greater transparency and accountability within pharmacy benefit manager (PBM) practices are needed to ensure that savings reach patients and employers. Reforming PBM operations is essential to strengthening access and affordability across the healthcare system. A Unified Message from the Life Sciences Community The sign-on letter reflects broad, bipartisan alignment across the national life sciences ecosystem: researchers, entrepreneurs, investors, patient advocates, and state associations all share a common message— these programs underpin America’s global competitiveness and are vital to patients who rely on continued scientific progress. Georgia Life Sciences has shared the letter with members of Georgia’s congressional delegation and will continue engaging with policymakers to emphasize the importance of swift action.
MORE POSTS