In a recent episode of the radio show Health Futures, Taking Stock in You, hosted by Bob Roth, the guest was Joan Koerber-Walker, CEO and President of the Arizona Bioindustry Association (AZ Bio). The discussion revolved around Arizona’s transformation into a prominent hub for bioscience companies over the past two decades.
Here is where you can find the Radio Show: https://youtu.be/zSubNMn6qY4
Here is where you can find the Podcast Episodes:
Back in 1994, Arizona’s bioscience sector was in its infancy, featuring key organizations such as TGen and Medtronic. Today, Arizona stands 14th in the nation for the number of bioscience companies, with a remarkable $38.5 billion annual economic impact and employment opportunities for 345,000 Arizonans.
Several factors contribute to this substantial growth, as outlined by Joan:
- Strong research universities, including ASU and the University of Arizona, spearheading innovations in areas such as cancer and medical devices.
- An expanding network of hospitals and treatment centers.
- Business-friendly tax policies and economic development agencies that support startup initiatives.
- The availability of talent as graduates enter the workforce in the state.
The bioscience companies in Arizona are at the forefront of groundbreaking innovations with the potential to enhance and save lives, concurrently bolstering the state’s economy. Noteworthy examples include Calviri’s canine cancer vaccine undergoing testing, with hopes for human trials, and new blood tests capable of early screening for multiple cancers, improving chances of remission and survival.
Joan conveyed AZ Bio’s ambitious goal to further amplify this growth by doubling the economic impact to $78 billion by 2033. To achieve this, they are implementing specific strategies focused on enhancing workforce training, fostering business acumen among entrepreneurs, and facilitating investment funding.
The bioscience industry in Arizona is not only saving lives and creating valuable job opportunities but also generating financial benefits for all Arizonans through increased tax revenue. This progress instills a sense of pride, signaling Arizona’s continued leadership in innovative healthcare for decades to come.
I recently listened to an episode of the radio show Health Futures, Taking Stock in You, hosted by Bob Roth. His guest was Joan Koerber-Walker, CEO and President of the Arizona Bioindustry Association (AZ Bio). They covered some fascinating topics about how Arizona has become a hub for bioscience companies over the past 20 years.
In 1994, Arizona’s bioscience industry was just getting started with some key organizations like TGen and Medtronic having a presence. Fast forward to today, and Arizona ranks 14th nationally in number of bioscience companies and the industry has a $38.5 billion annual economic impact on the state. Even more impressive – the bioscience industry employs 345,000 Arizonans!
So what’s driving this massive growth? Joan outlined a few key factors:
- Strong research universities like ASU and University of Arizona that are innovating in areas like cancer and medical devices
- An expanding network of hospitals and treatment centers
- Business-friendly tax policies and economic development agencies supporting startups
- Availability of talent as graduates enter the workforce here
Arizona bioscience companies are working on some groundbreaking innovations that could improve and even save lives, while also strengthening the state’s economy. For example, Calviri is testing a vaccine for dogs that could prevent cancer, hoping it leads to human trials. And new blood tests can screen for multiple cancers early, improving chances of remission and survival.
Joan explained AZ Bio’s goal is to continue this growth by doubling the economic impact to $78 billion by 2033. They have specific strategies around improving workforce training, helping entrepreneurs develop business acumen, and providing investment funding.
The bioscience industry is saving lives, creating good jobs, and financially benefiting all Arizonans through increased tax revenue. We should all be proud of the progress being made right here in our state. It gives me hope Arizona will continue leading the way in innovative healthcare for decades to come.