A recent study of the life sciences industry in Grand Rapids and Kalamazoo says the key to moving the industry into the international spotlight is generating intellectual property, and that will lure the talent and capital needed to sustain momentum. That also means private and public investment of up to $1 billion to generate the jobs and revenue.
According to excerpts from the story:
A new report lays the foundation to lift western Michigan's life-sciences industry to its full potential and back to global prominence.
Doing so would require additional private and public investment of some $1 billion, resulting in a "reasonable" return on investment of $5 billion within a decade and directly generating 1,100 jobs, according to modeling done by consultant Ed Bee, president of Taimerica Management Co.
Piecemealed or poorly funded efforts will fail, Bee wrote in the report, and publicly driven initiatives often make investments that are too small to yield desired results.
Read the complete story here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.