KALAMAZOO ? The Right Place Program, a Grand Rapids economic development group, and Southwest Michigan First, its counterpart in greater Kalamazoo, have partnered on a new study that shows drug development and biotech offer rich opportunities for life sciences businesses based in the two metropolitan areas.
Specifically, the report shows biopharma and Medical device makers have the best opportunity to grow in a 100-mile long region that stretches from the Indiana border to northern Kent County where more than $1 billion has been invested recently in life sciences, and where more than 850 open clinical trials have been conducted, making it one of the nation?s largest biopharmaceuticals clusters.
?There?s so much more to be done,? said Right Place President Birgit Klohs. ?By packaging what we collectively offer we can truly compete with the better known markets for those larger investments and become a real player in this market.?
As a first effort in this new partnership, The Right Place and Southwest Michigan First have co-sponsored a study by Taimerica Management Company principle Ed Bee. The 67-page report contains a series of investment, incentive and funding recommendations to raise West Michigan?s profile in the pharmaceutical, biotechnology and medical device industries worldwide.
?This is an initial body of work that we will use to develop short- and long-term strategies for regional development,? Kitchens said.
?Michigan, while still growing, is also making significant large-scale transitions into new markets and new industries,? Klohs said. ?Supporting the growth of a new industry cluster touches everything from funding to workforce development. This study is another set of data that we can use to work with our public and private partners to create real change for this region and this state.?
For more information, click on TheRightPlace.Org
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