By: Deborah Johnson Wood
Earlier this week two leading economic development organizations announced that they have joined forces to market the region's life sciences cluster in an effort to attract investment, more research, and more entrepreneurs.
Grand Rapids-based The Right Place, Inc. and Kalamazoo-based Southwest Michigan First also released the results of a joint study that contains investment, incentive, and funding recommendations to bring the region's pharmaceutical, biotechnology, and medical device industries into the global spotlight.
The region is the sixth largest biopharmaceuticals cluster in the US, with a recent investment of over $1 billion in life science endeavors. In addition, there are over 850 clinical trials currently open in West Michigan.
"We wanted to look at what Grand Rapids and Kalamazoo both have and how we can leverage the resources in both communities to where two plus two makes five," says Birgit Klohs, president of The Right Place. "We wanted a third party to say, 'here's what you want and here's what you have and here's the pieces you need.'"
Southwest Michigan First President and CEO Ron Kitchens agrees that the study is just the beginning.
"This is an initial body of work that we will use to develop short- and long-term strategies for regional development," says Kitchens. "It builds on previous work that both The Right Place and Southwest Michigan First have done, and gives us a roadmap for the future."
Ed Bee, president of Taimerica Management Company, conducted the study.
Source: Birgit Klohs, The Right Place, Inc.; Ron Kitchens, Southwest Michigan First
Deborah Johnson Wood is development news editor for Rapid Growth. She can be contacted at [email protected].
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