June 6, 2023 | Today, the Biotechnology Innovation Organization (BIO), in partnership with the Council of State Bioscience Associations (CSBA), released a new report on the best practices in state bioscience economic development measures, “ The U.S. Biosciences Industry in the States: Best Practices in Innovation, Partnerships, and Job Creation.”

The report, now in its seventh edition, analyzes the latest legislative and regulatory economic development initiatives at the state and regional level that help support the bioscience sector.

“At every level of government, public policy has a profound impact on the bioscience ecosystem and its ability to innovate and grow,” said Rachel King, President and CEO of BIO. “This report provides an in-depth guide for how state policymakers can help foster a strong bioscience economy, fuel job creation, and drive an innovative economy in their state.”

The report reviews public policy initiatives in all 50 states and spotlights noteworthy programs that enhance the future of the bioscience industry. In addition to several specific state policy examples, the report identified four national trends that helped retain and grow the bioscience sector at the state level in 2023:

  • Building career pathways for future biosciences talent is crucial.
  • States and regions are addressing their regulatory climate to ensure predictable and stable regulatory treatment of biosciences firms.
  • Utilization of innovative technology-based economic development tax support strategies is on the rise.
  • Universities and research centers continue to be strong partners in pre-commercialization research and technology transfer.

“BIO and CSBA’s new report serves as a roadmap for economic development in the biosciences industry, showcasing proven strategies and innovative practices implemented by states across the US,” said John Conrad, Board Vice Chair of CSBA and President and CEO of Illinois Biotechnology Innovation Organization (iBIO). “Illinois, in particular, has made significant strides in implementing economic incentives to drive growth in the state’s bioscience sector, generating high-quality jobs, and fostering an entrepreneurial ecosystem that remains essential to the industry’s future success.”

“This report confirms the vital role U.S. biosciences companies have in creating jobs and stimulating the economy, and illustrates the continuation of the increasingly-supportive role that state and regional policymakers are playing in company retention and expansion in their locations,” said Pete Pellerito, BIO Senior Policy Adviser and principal author of the report.

The full report is available at  bio.org/bestpractices.

The report will be discussed at the BIO International Convention during a session on Tuesday, June 6 at 3:00 pm ET. For more information, visit  here.

Georgia Life Sciences Designates City of Atlanta as Newest BioReady® Community

By Sheran Brown • February 21, 2025
Georgia Life Sciences Designates City of Atlanta as Newest BioReady® Community

Bipartisan PBM Reform Back in Focus as House Committee Plans Hearing

By Sheran Brown • February 20, 2025
A renewed push for prescription drug cost reform is gaining momentum in Congress, with the House Energy and Commerce Committee's health subcommittee planning a hearing on pharmacy benefit manager (PBM) reform for late February. The hearing, to be led by Rep. Buddy Carter (R-Ga.), signals a revival of bipartisan efforts to regulate these pharmaceutical intermediaries. PBMs, which negotiate drug prices for insurers and employers, have become a focal point in the broader discussion of healthcare costs. A previous bipartisan agreement to regulate these entities was crafted by Carter and Rep. Diana DeGette (D-Colo.) in the last Congress, though it ultimately stalled when the larger spending bill it was attached to faced opposition. The reform efforts enjoy broad support from both parties and the president, making it one of the few areas with potential for bipartisan cooperation. However, new complications have emerged as Republicans consider using PBM regulations to generate savings for their broader policy agenda, potentially requiring up to $880 billion in cost reductions. The path forward remains uncertain, with ongoing debates about whether such reforms would qualify for budget reconciliation and whether using PBM regulations as a funding mechanism could derail bipartisan cooperation. Meanwhile, stakeholders continue to disagree on the impact of additional PBM regulation, with pharmaceutical companies arguing that PBMs inflate drug costs while PBMs contend that new regulations would increase prices.

Council on State Biotechnology Associations says NIH funds are a critical component of innovation ecosystem

By Sheran Brown • February 20, 2025
The Council of State Biotechnology Associations (CSBA) has issued a strong warning about proposed cuts to National Institutes of Health (NIH) funding, emphasizing the critical role these grants play in America's biotech innovation ecosystem. The statement, below , comes amid concerns over recent guidance that would reduce NIH funding to key research institutions. ----------------------- “Today, the US biotech industry employs nearly 2.3 million people across the US and is making positive contributions to economic impact and national security across all 50 states. In fact, for every dollar the National Institutes of Health (NIH) contributes to a successful drug, the private sector invests over $65, underscoring the agency’s unparalleled return on investment. As the associations representing the bioscience industry across the nation, the Council on State Biotechnology Associations (CSBA) is concerned by recent guidance that would cut funding provided by the NIH to universities, hospitals, and other institutions that perform critical early-stage research. NIH grant funds are a critical component of our innovation ecosystem. Grants for basic research are the spark that leads to university-driven discoveries, with public-private partnerships and tech transfers that bridge early-stage research to industry-sponsored drug development and ultimately to FDA approved medical advances for hundreds of diseases. While the administration looks for greater efficiency in the use of taxpayer dollars, it cannot be overstated - once scientific innovation moves abroad, it may never return. In the race for scientific innovation around the world, as our adversaries continue to increase government investments in research, we encourage President Trump to follow suit and ensure that we maintain our global leadership in an industry that was created and thrives across the US.”
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