As the 2009 Milken Institute Report put it: "The growth of Greater Philadelphia's life sciences cluster is primarily the result of its position as a major center for the U.S. pharmaceutical industry and its strong local research infrastructure, which includes some of the nation's top-ranked universities. The region's eclectic mix of university research, world-renowned teaching hospitals, technology spinout companies, and other start-ups – all interacting in a network – encourages companies to establish operations and grow in Greater Philadelphia. Underpinning all this interconnected activity is an evolving support network for entrepreneurs, including venture capitalists, high-tech absorptive capacity, and providers of professional services."

No other U.S. Life Sciences cluster can equal Greater Philadelphia's ability to support the development and commercialization of Life Sciences products. In a single region, you, as a pharmaceutical and biotechnology leader, can find what you need to bring your discoveries to market.

And, over 130 companies in Greater Philadelphia received over $45,000,000 in funding through the Therapeutic Discovery Project Credits and Grants in 2010.

Greater Philadelphia has:

• Four times the national concentration of pharmaceutical manufacturing facilities.
• Academic research, global pharmaceuticals, mature biotech, emerging biotech and device and diagnostic companies.
• Support services and infrastructure, including financing, legal and business advice, sales and marketing expertise.
• Approximately 104,260 persons employed in core life sciences and supporting industries in Greater Philadelphia in 2010.
• Over 100 colleges and universities offer life science curriculums and graduates.
• Awarded over 2,370 certificates and degrees were awarded in biological and biomedical sciences, and an additional 685 in pharmacy majors such as pharmacology and pharmacy administration in 2008/09.
• Funding sources (Venture Capital, state and federal, angels, non-profits, banks).
• State-of-the-art labs, incubators and science/technology centers including wet labs, clean rooms and cGMP certified facilities.
• Technology transfer, licensing and commercialization opportunities.
• Close proximity to regulatory agencies in Washington, D.C. and financial capitol, NYC.
• Manufacturing capabilities.
• Access to top teaching and specialized hospitals.
• Top rankings in the 2009 Milken Report due to a strong blend of established pharma, research infrastructure, world-renowned universities, emerging startups, workforce, and support network for entrepreneurs.

The recently released 2009 Milken Report Ranks the Greater Philadelphia Life Science Cluster 2nd in the Overall Composite Index in the U.S. and 1st in the Current Impact Composite Index. (Download your copy of the 2009 Milken Report)

The Overall Composite Index

• Provides a comprehensive measure of how Greater Philadelphia is positioned against what 2009 Milken Report calls "Elite Clusters in the United States."
• Utilizes the Current Impact, the Innovation Pipeline and the Small Business Vitality Indices to arrive at an overall result.
• Greater Philadelphia moves up to 2nd place in the Overall Composite Index with a score of 97.7, up from 3rd place in Milken's 2005 analysis.

Other 2009 Milken Report findings include that Greater Philadelphia:

• After accounting for the ripple effects, the life sciences cluster was responsible for generating 380,000 jobs, $20.2 billion in earnings, and $39.7 billion in output in 2007.
• 15% of all economic activity and one out of every six jobs can be traced to life sciences.
• Life science sector generated $7.7 billion in earnings and $17.5 billion in output or gross metro product (GDP) in 2007.

Call Select Greater Philadelphia's Business Development Team at 800-221-0774 to learn more about our region's life sciences workforce, academic links and educational initiatives.