Biotech Beach
The University and the Division of Biological Sciences are major contributors to the health of the state and local economies. According to the Milken State of the State Conference, California ranks #1 in job creation in start-ups and in Small Business Innovation Research grants from the National Institutes of Health. In 2007 alone, 693 new life sciences businesses were launched in California, with 98 of those in San Diego. As of today, there are 500 life sciences companies employing 36,000 employees in the San Diego area. The industry growth rate in 2006 was at 12.3% with a projected growth rate of 17.5% over the next decade. One major example of the importance of research to the local community.
