Business & Economy
6:25 pm
Fri February 15, 2013

N.C. Biotech Sector Is Fastest Growing In The Nation

Biotechnology leaders in North Carolina are encouraged by a new survey's results.  Officials with the Batelle Technology Partnership say North Carolina's biotech -- or life sciences sector is the third largest in the nation -- behind only California and Massachusetts.  Numbers show that while the state's economy has struggled, biotech has continued to prosper.  The state's biotech industry has grown 23-and-a-half percent from 2001 to 2010..faster than any other state.  Norris Tolson is C-E-O of  the N-C Biotech Center.

Source: Batelle Technology Partnership

"We look at it as validation of the argument that we make that when you invest in really good industry opportunities like the life sciences industry, the returns are there," Tolson said.  "The life sciences industry in North Carolina now is the 2nd largest segment of North Carolina's economy -- second only to agriculture."

Batelle's researchers found the state's biotech industry supports more than 237-thousand jobs and generates 59 billion dollars in economic activity.