The life science industry is a main area of focus across the country and Georgia is no exception. A report recently released by the Georgia Biomedical Partnership at the 2006 Georgia Life Science Summit provided a breakdown of Georgia’s fast growing life science industry. In 2005 Georgia reported 15,237 employees working in the biosciences industry, up 11% from 2001: 6,540 in medical and diagnostics laboratories and blood and organ banks; 3,518 in surgical, electro-medical and electrotherapeutic instruments manufacturing; 3,232 in pharmaceutical manufacturing; and 1,947 in life science research and development.

Based on this average annual job growth, Georgia is estimating 15,648 employees in its life science industry in 2006. It is not just the idea of more jobs that makes the life science industry so attractive, but the competitive salaries accompanying those jobs. Georgia reported an average salary of $58,683 for the private sector of its life science industry, with an average salary of $77,104 in pharmaceutical manufacturing.

Those at the 2006 Life Science Summit not only heard about the significant economic impact of the life science industry, but also got to see many of the responsible businesses. Booth displays allowed those involved and those wanting to become involved in Georgia’s life science boom to interact and discuss new ideas along with the possibility of relocating or starting a life science business in Georgia.

Georgia’s Life Science Innovation Center (LSIC) was participating vendor at the summit; the LSIC team spent time talking with existing and start-up companies about the services the center offers to organizations in the life sciences industry. In addition to access to university level research, networking with industry leaders – including those on the MCG campus where LSIC is housed and matching research grant funds, the center has business incubator space with customized laboratories to qualified businesses.