The Battelle/BIO: State Bioscience Industry Development Report (See p 86 for MD) did an accurate job of portraying the struggles that the Maryland Bioscience industry had over the recession, as further outlined in Bill Flook’s WBJ article “Maryland Biotech Jobs dropped by 1.2% during recession”. If you take a closer look at what is behind the numbers though, you’ll find some more surprising data that sheds some light on a potentially greater problem hiding beneath the surface; the exit and decline of commercial drug manufacturing companies in Maryland.
The total industry job loss through 2010 was only about 400 jobs when all was said and done. During that time innovation and entrepreneurship flourished in the R&D / Testing Laboratory sector which grew by 210 companies and 230+ jobs. Compared to most states, I’d say we made it through the recession in pretty good shape and poised for strong rebound, but not without some worry.
To read the full, original article click on this link: Maryland’s Biotech Industry Recession Report Card :: BioBuzz
