The Assembly Select Committee on Biotechnology convened an informational hearing on Sept. 21 to discuss California’s ability to attract and retain biotechnology companies in the future. Legislators, including Assemblymember Jerry Hill (D-San Mateo), chair of the Assembly Select Committee on Biotechnology, heard testimony from biomedical industry leaders that addressed tax incentives to keep biomedical firms here in California, the importance of a robust and well-funded higher education system, and the key elements biotechnology companies look for when deciding where to site research, development, and manufacturing facilities. Several companies have moved to other regions that are offering attractive packages, including access to funding, tax breaks and more to lure the life sciences industry away from the Golden State. California’s biomedical industry accounts for 271,000 California jobs and the average annual wage is $75,000. Hosted at the facilities of CHI member Exelixis in South San Francisco, presenters included CHI's Vice Chairman George Scangos, Ph.D., president and chief executive officer, Exelixis; Andrea Jackson, Genentech; Carl Engle, partner, Monitor Group; Melinda Ritcher, executive director, San Jose Biocenter; Stephen Richardson, senior vice president-San Francisco and Bay Area, Alexandria Real Estate; and Jeffrey Cooper, chief financial officer, BioMarin Pharmaceuticals.
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San Mateo County Times
The Daily Journal
CHI-Advancing California biomedical research and innovation
