Things You Need to Know About Georgia Life Sciences
Monday, June 13th, 2022
Life sciences is one of the fastest growing sectors in the United States, and we are excited to share that Georgia is outpacing the national growth. Most people might not be aware that the state is home to over 2,000 life science companies including global industry leaders Alcon, Johnson & Johnson, Sanofi, and Takeda, as well as headquarters of American Cancer Society, Arthritis Foundation, and the CDC just to name a few.
As part of our mission to foster growth and support life sciences in Georgia, the Georgia Department of Economic Development is participating in the BIO International Convention, June 13 – 16. The Georgia pavilion showcases the state’s resources available to new and existing companies. A few of this years’ highlights include:
Georgia is an epicenter for ongoing advances in medicine and efforts to eliminate disease across the planet. The state fosters a culture of collaboration and innovation that brings together medical professionals and researchers working at Georgia universities, private industry, and non-profit organizations to tackle medical campaigns all over the world.
A true hub for new ideas and growth, Georgia has created an ecosystem that includes corporate innovation centers, research universities, incubators, and accelerators. In April 2022, Boehringer Ingelheim, a global research-driven pharmaceutical and manufacturing company, announced a $57 million investment to expand its Animal Health Global Innovation Center in Athens. The expansion of existing Global Innovation facilities will add laboratory space to the site, including 55 new positions.
In March 2022, Moderna, Inc., a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, announced plans to establish a new Enterprise Solutions Hub in Atlanta. Moderna will create more than 150 new jobs over the next two years. Georgia’s highly skilled and diverse workforce, vibrant business community, and growth trajectory were identified as key factors in Moderna’s decision to locate here.
When it comes to manufacturing for the life sciences industry, Georgia presents a number of advantages, like an expertise in smart factories and artificial intelligence, which are helping to transform and digitize the manufacturing process. Georgia is also home to some of the largest contract research organizations (CROs), and contract development and manufacturing companies (CDMOs) across the globe.
To further encourage manufacturing growth, Georgia recently instated a Life Sciences Manufacturing Tax Credit Bonus. In May 2021, legislation added a bonus to the existing Job Tax Credit, an incentive offered to new or expanding companies creating jobs in Georgia. The extra tax credit can be awarded to companies that manufacture pharmaceuticals, medicines, and medical equipment and supplies in Georgia.
A few of the life sciences companies that the Georgia Department of Economic Development specifically helped to locate or expand last 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.
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.
BIO International provides Georgia representatives an opportunity to meet with top professionals and business leaders in the industry. GDEcD looks forward to welcoming visitors at the Georgia booth (#1511) and to share our mission for supporting economic development across the state. We will also be showcasing a few Georgia organizations:
To learn more about Georgia’s achievements in life sciences and resources the state can provide to companies in the industry, please contact us.