Biotech Voice Alternative to Dec. 3 Jobs Summit
SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)– In a letter to the entire California Congressional delegation sent on Monday, November 30, BayBio emphasized the importance of biotechnology to the Golden State and American competitiveness just days before President Obama’s Dec. 3 jobs summit. The workforce in California represents 250,000 employees and this important voice must be recognized over the course of the discussion.
“We have an important point of view to President Obama’s December 3 Jobs Summit, biotechnology represents a valuable commodity to the long-term competitiveness of the country,” said Gail Maderis, acting CEO of BayBio. “The biotechnology business model is completely different than a tech company or restaurant – we spend $1.2 billion over 14 years to employ a workforce in search of new treatments.”
Biotechnology is an important piece of the economy and there are steps the government can take to ensure the immediate impact of its investments to revive the economy. Including biotechnology in America’s economic development strategy is essential to the long-term success of the Nation. The life sciences industry is researching and developing some of the most needed medicines in history and requires policies that reflect the long-term investment to make these treatments a reality.
The letter sent to the California Congressional delegation is available online.
About BayBio
BayBio is the voice of the world’s oldest, largest and most productive life sciences cluster. It serves Northern California’s 1,300+ life sciences companies. The staff and services of BayBio are paid primarily through memberships, sponsorships, and event registration fees.
November 30, 2009
The Honorable Nancy PelosiUnited States House of RepresentativesWashington, D.C. 20515
Dear Speaker Pelosi,
BayBio is writing this open letter to the entire California Congressional delegation regarding the President’s jobs summit to be convened December 3.
BayBio is a trade association representing Northern California biotechnology where fully 35 percent of the global biotechnology research companies reside.
Biotechnology research companies operate under a very different business model than most companies in general and technology companies specifically. Over half of all biotechnology companies in Northern California are under 50 employees. To successfully generate one product requires research over 14 years and an investment of over $1.2 billion.
The science of biotech discovery is enormously difficult. We require the best scientific minds possible. We are by no means your average company. Additionally, there is enormous international competition to develop new treatments and cures.
Consequently, we require the long term policy attention of the Administration and Congress. The employment policy recommendations we propose will assist us immediately to retain and create jobs as well as sustain jobs and competitiveness over a longer period of time than Washington usually considers.
BayBio has the following observations we hope will be considered in this jobs summit and by the Administration and Congress as we all work to overcome this recession of many months.
Thank you for considering our points of view. Please call me if you have any questions.
Sincerely,Gail Maderis,Acting CEO