Long known as a land full of agricultural possibilities, Missouri is proving that it can yield plenty of other things besides traditional crops of wheat, soybeans and corn.
Missouri is staking its claim in an industry that is churning out tomorrow's biotech wonders by way of seed funding, innovative research and an essential technology transfer and commercialization process.
Setting the Life Sciences Stage
Missouri presents a great case study for how to target an industry and establish a plan to progressively grow that industry.
The state has created a four-point strategy to gain steady ground toward a bright future in the life sciences industry, according to Gov. Bob Holden.
The strategy includes boosting research capacity by investing in people and facilities, building a culture of entrepreneurship, ensuring a favorable business climate and linking the state's education work force system with the talent needs of firms and researchers.
The St. Louis region is branded the BioBelt. The Center of Plant and Life Sciences is currently home to more than 390 plant and life sciences enterprises, which employ more than 22,000 people.
Across the state, in Kansas City, progress is evident in the city's quest to become a biotech and life sciences haven. The region is home to such industry players as Bayer CropScience, Intervet Inc., Cerner, Quintiles, Teva Neuroscience and Aventis.
Additionally, the area's emerging biosciences story is being fueled by the Stowers Institute for Medical Research and the Kansas City Area Life Sciences Institute.
Access to venture capital and knowledgeable consultants were cited as draws for VasoGenix Pharmaceuticals, which recently relocated its headquarters from Denver to Kansas City.
"As a small drug developer, we need access to consultants who can work on a variety of issues and who know their way around the Food and Drug Administration, and outside of the East or West coasts, Kansas City is the only place in the country where we've found people who can provide this professionalism," said Gary Yewey, president and CEO of VasoGenix.
Aiming to the Top Ten
While Missouri may not ever achieve the stature of some East and West Coast cities traditionally known as R&D strongholds, the state nonetheless is aiming to become one of the top 10 regions nationally for life sciences research.
With advantages such as moderate costs, a quality work force, low taxes, supportive R&D institutions and incentives targeted at growing tech-based firms, Missouri should stay on course to achieving that goal.
Rachael Hedgcoth is senior editor of Expansion Management magazine. She can be reached at rhedgcoth@penton.com.
Facts & Contacts / Missouri
Demography and Economy
Population: 5.6 million
Capital: Jefferson City
Three Largest Cities: Kansas City, 441,545; St. Louis, 348,189; Springfield, 151,580
GSP: $170 billion
Per Capita Income: $26,404
Percentage of Private Manufacturing Labor Force Organized: 21.8%
Right to Work State: No
Unemployment Rate: 4.7% (August 2002)
Average Hourly Manufacturing Wage: $14.13
Population Age 25 And Over With Bachelor's Degree or More: Kansas City, 22.0%; St. Louis, 15.3%; Springfield, 20.7%
Corporate Income Tax Rate: 6.25%
Primary Industries: Transportation equipment, food and kindred products, printing and publishing, industrial machinery and equipment, fabricated metal products, electrical machinery and equipment, chemical and allied products, paper and allied products
Targeted Industries: Biotechnology and life sciences, advanced manufacturing, agribusiness, financial services, information and media, transportation, services
Business Assistance
Worker Training Programs: Customized Training Program; Skills Development Tax Credit; Community College New Jobs Training Program; Work Opportunity Tax Credit;
Welfare-to-Work Tax Credit
Enterprise Zones: 65
Foreign Trade Zones: 2 - Kansas City, St. Louis
For more information contact
Joe Driskill, Director, Missouri Department of Economic Development, 301 W. High St.,
Jefferson City, MO 65102, (573) 751-4962, fax: (573) 751-7385, Web:www.ecodev.state.mo.us
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