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How the Rocky Mountain States Chase Life Sciences Investment

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How the Rocky Mountain States Chase Life Sciences Investment How the Rocky Mountain States Chase Life Sciences Investment COLORADO IDAHO MONTANA UTAH WYOMING INCENTIVES Econ. Dev. Commission Idaho has a broad offering A loan program with Utah has a strong state Tax system includes no Incentive Grants based of incentives and tax the Montana Board of funding program for its personal or corporate on jobs created. credits, though none Investments, and grants life sciences/center of income tax, along with targeted specifically at available from the Montana excellence program for low property taxes and low Venture Capital Authority life sciences. Because of Research and both company expansions, unemployment insurance — $50 million seed fund the diverse nature of bio- Commercialization Board. as well as for new company rates and low workers for Colorado start-up sciences, some companies recruitment in the state. compensation rates. companies. might be more interested in Local Economic Utah also has life science R&D tax credit while others Development units also clusters. Incentives are The Wyoming Business Certified Capital Companies might find new employee have their own incentive available from the Industrial Council offers the Wyoming (CAPCO) — $100 million for training reimbursements programs. Assistance Fund, which Partnership Challenge Loan Colorado companies. more helpful. was established in 1991 Program which provides A new Venture Capital by the Utah Legislature low-interest loans to com- Colorado First Training Idaho’s Legislature this program was instituted to provide grants in the munity development organi- Grants — approx. $800 spring passed legislation to by the 2005 Legislature. establishment, relocation zations that, in turn, match per employee to train or expand incentives for both or development of industry these funds and make retrain workers. large and small businesses. in Utah. low-interest loans to new and existing businesses. TECHNOLOGY PARKS Fitzsimons BioScience None, but the state ranks In Bozeman, there is a The research park at None dedicated to life Park in Aurora is one 2nd in the nation for its technology park which the University of Utah sciences. square mile dedicated number of business incuba- contains LigoCyte specializes in life sciences. to life science research, tors per 10,000 business Pharmaceuticals, the education, clinical studies establishments (Source: Molecular Biology Lab and commercialization. Milken Institute). Several and TechRanch, www.colobio.com life sciences companies among others. are currently located in these incubators. TRAINING PROGRAMS Community College of Up to $2,000 New Employee Montana State University Custom-fit training program Companies can work Aurora — Bio Technician Training Reimbursement has a BioTech degree tailored for each new through the Department Certificate is available for each program. company to ensure there of Workforce Services qualifying new job through is a knowledgeable to implement and fund CU-Colorado Springs — Idaho’s Workforce There are life science workforce. completely customized Certificate in Bio- Development Training worker training programs training. Workforce training informatics Fund program. Up to $3,000 at the Montana Colleges is performed through the reimbursement per new of Technology. Wyoming Community Red Rocks Community job created in select College System. College — Biotechnology rural counties. Degree NUMBER OF COMPANIES AND EMPLOYEES 320 life science companies. Idaho has not historically According to ES (employ- About 125 companies and Wyoming has 121 tracked this industry. ment security) 2002 data, about 13,000 employees. companies in the Life An estimated 14,500 there were 110 biotech Sciences NAICS codes employees. companies with just over 541710, 621511 and 541380. 600 employees. State has no estimate of employment. (Page 1 of 2) How the Rocky Mountain States Chase Life Sciences Investment COLORADO IDAHO MONTANA UTAH WYOMING MAJOR COMPANIES Amgen J.R. Simplot Co. LigoCyte Pharmaceuticals Myriad Genetics Asherman Medical Roche AMI Semiconductor Corixa Sorenson Genomics Products Sandoz Monsanto Rocky Mountain NPS Pharmaceuticals Chinook Engineering Eyetech Alturas Analytics Laboratories BD Medical OSI Pharmaceuticals Asgrow Seed Company International Heart Institute ARUP Myogen Caisson Laboratories Deaconess Research Idaho Technology Pharmion Institute Huntsman Cancer Institute LIFE SCIENCE SPECIALTIES Biotech and Medical One of Idaho’s key The key competitive advan- The University of Utah has The nature of development Devices. industries has long been tages are agriculture identified more disease- in Wyoming’s life sciences agriculture. This has biotech with a human related genes than any fields appears to be in Mainly small and medium- developed naturally over element combined. other university in the fields relating to mineral sized companies, with the years into a number (For instance Deaconess world — one reason Utah extraction. Key competitive a few big pharma of life sciences areas, Billings Clinic Research is considered a leading advantage comes from vast manufacturing facilities. including ag/bio and food center is doing research biotechnology center. natural resources and production, biomedical on sugar beet fiber to Utah is home to superior thriving industries related and infectious diseases. lower cholesterol.) research from the world’s to their extraction. largest family history data- In this area, we have a base along with clinical strong infrastructure with data regarding cancer the molecular biology occurrences in families. center, ag experiment Utah companies such as stations with strong R & D Myriad Genetics pioneer Capacity and many others. groundbreaking research in human genomics. TECHNOLOGY-TRANSFER PROGRAMS University of Colorado Tech The University of Idaho, Strong technology transfer Utah’s research universities The Wyoming Research Transfer Office — Proof of in particular, does a vast and commercialization — the University of Utah, Products Center (RPC) Concept Fund amount of work in the life private sector friendly Brigham Young University, was formally launched on sciences. There is not a programs at the University and Utah State University October 1, 1999 as a Colorado State University dedicated life sciences of Montana and Montana — have strong life sciences collaborative effort Research Foundation — tech transfer program State University. There are program and technology between the University of Commercial Opportunity or incubator, but the incubators in Bozeman, transfer offices. Wyoming Research Office Fund university’s existing TechRanch and TechLink; and the Wyoming Business tech-transfer and business and, in Missoula, MonTec; Council. The RPC is the National Jewish Medical incubation programs cover and, in Billings, Billings technology transfer office and Research Center — a broad range of research Business Incubator. for the University of IP and Technology including the life-sciences Wyoming. Commercialization Program areas. CONTACTS Christine Shapard, Idaho Commerce & Labor, Sharon Peterson, Exec. Dir., Jeff Edwards, Brandon Marshall, Biosciences & Emerging Econ. Dev. Division Montana BioScience Econ. Dev. Corp. of Utah Bus. & Industry Division, Technologies Director, 700 W. State St. Alliance (801) 328-8824 Wyoming Business Council Colorado Office of Econ. P.O. Box 83720 P.O. Box 1773 [email protected] 214 W. 15th St. Dev. and Int’l Trade Boise, Idaho, 83720 Billings, Montana 59103 Cheyenne, WY 82002 Christine.shapard@ Phone: 1-800-842-5858 sharonpeterson@ Utah Life Science Assoc. 800-262-3425 state.co.us or 303-892-3840 Fax: (208) 334-2631 bresnan.net www.utahlifescience.com [email protected] www.idahoworks.com www.montanabio.org (Page 2 of 2).
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