The Maryland Biotechnology Institute

Abstract

The manufacturing industry that has driven much of Maryland's economic progress is regressing. Financial service firms are in decline. Real estate, once a producer of wealth, is in a slump and is unlikely to return to its former grandeur. The governor and legislators are trying to fix the state's billion dollar budget deficit. In this otherwise gloomy situation, the success of the state's life science development strategy stands out. Maryland is the home of 53 dedicated biotechnology firms, more than all other states except California and Massachusetts. State economic development officials estimate that biotechnology-related jobs in the state will grow from 4,000 to more that 70,000 in the next ten years.