California’s political and business leaders continue to make a strong effort to retain the lead in the global race to create a Silicon Valley-like hub for the emerging biotech industry.
The passage in the last election of Proposition 71–the stem cell research bond initiative–ensured that, for the time being, the state’s investment in biotechnology is greater than that of any other country, including the United States federal government.
U.S. Biotech Firms
Twenty-six percent of all U.S. biotech firms are located in California.
They earn 53% of related revenues nationwide.
- The Dynamics of California’s Biotechnology Industry, Public Policy Institute of California (PDF)
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