BIO Releases Report on Policy Best Practices

BIO, in partnership with the CSBA, released a new report on bioscience economic development and legislative policy best practices, “Driving the Bioscience Economy Forward During the COVID-19 Pandemic: Best Practices in State and Regional Economic Development Initiatives.” The report, which reviewed public policy strategies and programs in all 50 states, highlights new and innovative initiatives that enhance the future of the bioscience industry. In addition to several evaluations of specific state and policy examples, the report identified seven national trends for state bioscience growth in 2021:

• States are building career pathways for future biosciences talent.
• States and regions are implementing an overall supportive regulatory climate to ensure predictable and stable regulatory treatment of biosciences firms.
• States and regions are focusing on developing their agricultural, industrial, and environmental bioscience sectors in addition to their biomedical and health sectors.
• Physical infrastructure and facilities remain a priority.
• Universities and other research centers’ technology transfer efforts are better understood by public agencies.
• Proximity to academic innovation is a driving influence.
• Increased focus on biomanufacturing is the future.

MichBio uses the report as a benchmark when discussing policy priorities with Michigan legislators. Support for workforce development and commercialization programs are top priorities for our legislative agenda. The report is an excellent means to convey Michigan’s competitiveness as a bioindustry cluster, and demonstrate to decisionmakers the opportunities that exist to bolster growth and economic impact.