Source Axios.com
PHILADELPHIA — Significant investments in biotech research and manufacturing are positioning the Philadelphia region for new jobs and broader economic growth, policy and science experts said at an Axios event.
Why it matters: The burst of investments could create high-skilled job pathways and accelerate new treatment studies at a moment when there's high competition among U.S. cities to become top life science hubs.
Axios' Isaac Avilucea, Mike D'Onofrio and Brock Turner spoke with Science Center interim president and CEO Kerry Benson, Pennsylvania Chamber of Business and Industry president and CEO Luke Bernstein and state Rep. Lisa Borowski (D). The Sept. 9 event was sponsored by PhRMA.
What they're saying: Benson cited Philadelphia's "1,200 life sciences companies" and "15 major health care systems" as a driving force behind investments from major drugmakers and technology companies.
"We have countless examples of … companies that have already built … manufacturing plants, and they're producing products that are being shipped worldwide," Benson said.
Follow the money: Gov. Josh Shapiro (D) announced in January a $3.5 billion investment from Eli Lilly to build a new manufacturing facility in the state, "the largest life sciences investment" in Pennsylvania history.
GSK and Johnson & Johnson also plan to build facilities in the region.
What's next: Another big investment in southeastern Pennsylvania's life sciences sector will come next month, Bernstein announced. He said future workers will feel the impact of these supports.
"So you're going to see burgeoning economies coming out," Bernstein said, with "highly skilled jobs that are going to really, not train the workforce just for today, but those for tomorrow."
Yes, but: Borowski said access to health care in the region is regressing due to changes to the Affordable Care Act (ACA) marketplace and local provider strain, despite biotech innovation.
"Things haven't changed that much since 1991, and sadly, we've actually taken some steps back," she said.
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