The biopharmaceutical industry in Greater Grand Rapids is rapidly pumping billions of dollars into the local economy, advancing lifesaving discoveries through some 850 open clinical trials and building a foundation for even more life sciences businesses in the near future.
According to excerpts from the story:
GRAND RAPIDS — West Michigan is home to a diverse mix of companies and organizations involved in the life sciences, from pharmaceuticals and nutriceuticals to medical devices, instrumentation and diagnostics, to biotechnology research and ancillary services. Some are involved in discovery and some are involved in manufacturing, or both.
MEDC statistics show that the state’s life sciences industry has exceeded growth of the U.S. average, with 27 percent growth in employment, 32 percent growth in number of companies formed and 165 percent growth in sales.
There are more than 100 life sciences firms in the area. Right Place data indicate the metro Grand Rapids area is home to the country’s sixth largest biopharmaceutical cluster, that there are more than 850 open clinical trials taking place here, and that more than $100 million in public funds are being applied to active research projects.
Read the complete story here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.