Site Expansion - Regional Roundup: Pennsylvania

5,770,600

5.3%

Philadelphia: 1,517,550; Pittsburgh: 334,563; Harrisburg: 48,950

Biotechnology, pharmaceuticals, medical device and diagnostics, bioinformatics, drug discovery tools and targets, tissue engineering, rational drug design and delivery systems, bionanotechnology

33,000 directly employed by the biopharmaceutical industry

University of Pittsburgh; Carnegie Mellon University; Pennsylvania State University; Lehigh University; University of Pennsylvania; The Wistar Institute; Temple University; Drexel University; University of the Sciences; Thomas Jefferson University

Agriculture; tourism; pharmaceuticals; manufacturing; biotech

R&D tax credits; job creation tax credits; customized job training; opportunity grants; machinery and equipment fund loans; Keystone Opportunity Zones provide state and local tax abatement; challenge grants for research and development, technology transfer, joint research and development; Ben Franklin Technology Development Authority is a seed venture program providing product development, coaching, valuable resources and working capital to early-stage, technology-based businesses and is one of the largest single-state technology development programs in the nation ($54.3 million)

Pittsburgh Life Sciences Greenhouse:

The state committed $2 billion of the state's projected tobacco settlement revenue to economic development initiatives in the life sciences; offers Customized Job Training grants of almost $1.7 million for life sciences companies to improve workforce skills and company performance; provides opportunity grants for more than $6 million for life sciences companies in the state; provides $7 million in net operating loss tax credits for the industry; and has proposals to expand tax credits for R&D activities to allow the sale of these credits to generate capital, to create "Keystone Innovation Zones" close to major academic centers, and to create additional opportunity funds for growth industries. Pennsylvania will continue to capitalize on its strong base of biopharmaceutical activity, attracting new companies and growing companies. The three regional life sciences Greenhouses have started to foster statewide growth and coordination of the life sciences. Specifically, the initiative is accelerating regional initiatives designed to: transfer technology from research laboratories to entrepreneurial start-up companies; enhance collaboration between academic, entrepreneurial, corporate, financial, and governmental partners; and attract new companies to the Commonwealth.