Latest Accomplishments in Life Sciences
The State of Georgia is a dynamic hub for life sciences, providing global access, innovative talent, and resources and support for research and development. More than 2,000 life sciences companies and organizations call Georgia home. The diverse life sciences industry employs more than 68,000 people and encompasses biotech, biopharma, medical devices, research, animal sciences, cybersecurity, and more.
That’s why this week, the Georgia Department of Economic Development (GDEcD) is again participating in the annual international BIO conference. This year’s event, Bio Digital 2021, is a virtual affair attracting thousands of biotech leaders and innovators from around the world.
As the pandemic turned the world’s attention to health care and life sciences research and innovation, Georgia’s life sciences community took a leadership role in confronting the global COVID-19 pandemic, employing its symbiotic ecosystem to develop plasma therapies and support vaccine development. The newly formed Global Heath Crisis Coordination Center (GHC3) became the latest addition to the impressive roster of global health organizations headquartered in Georgia, joining the CDC, American Cancer Society, and other major centers of health care research.
A few of the life sciences companies that the Georgia Department of Economic Development specifically helped to locate or expand during the past year include:
• RWDC Industries, a biotechnology company and global leader in developing cost-effective alternatives to single-use plastics that invested $260 million in expanding its operations.
• Medline Industries, Inc., a manufacturer and distributor of medical supplies that invested more than $70 million building their second distribution center in Georgia.
• Path-Tec, a health care logistics and supply chain solutions provider that invested more than $5 million in expanding its operations in West Georgia, creating 350 local jobs.
• IC Biomedical, a cryogenic freezer producer that develops equipment used for safe storage and transportation of medical products, opened an advanced manufacturing facility near Cartersville in northwest metro Atlanta.
• Takeda, a global biopharmaceutical company that increased capacity of life-saving plasma-derived therapies used to combat more than 400 kinds of primary immune deficiency diseases.
Additionally, Georgia has provided support for life sciences companies with special tax credits. Starting with the PPE tax credit introduced a year ago, Governor Kemp signed legislation into law that offers economic relief to companies that have created new jobs to manufacture PPE and other critical health care supplies. In May 2021, to further incentivize growth in life sciences manufacturing, Governor Kemp signed the Life Sciences Manufacturing Tax Credit, a bonus that is added to the Job Tax Credit for the creation of new jobs dedicated to manufacturing pharmaceuticals, medicines, and medical devices and equipment.
To learn more about Georgia’s achievements in life sciences and the resources the state can provide to companies in the industry, visit https://www.georgia.org/industries/life-sciences.
--Published on June 16, 2021, by the Global Commerce division, Life Sciences