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parts of the state’s economy. The industry has a significant impact that many in Utah appreciate, including state lawmakers.
Utah is a hub for medical innovation Katelin Roberts, interim director of BioHive, named several reasons life scientists flock to Utah. “First of all, we have world-class companies headquartered here,” she said. International life sciences companies such as BioFire, Merit Medical, and Myriad Genetics began in Utah. “We have a huge community, and the halo effect around life sciences accelerates companies that support their efforts as well,” Roberts added. Utah is fifth in the nation for diagnostics development, sixth for medical device development, the epicenter for life-saving catheter technologies, the world leader in genetic research, and a rising force in bio-pharma. Utah has one of the largest life sciences hubs per capita in the nation, and together, Utah life sciences companies generate $9.6 billion in sales annually. BioHive attracted $4.1 billion in investment from 2013 to 2017, including venture capital, subsequent rounds of funding, mergers and acquisitions, and public stock offerings. As the life sciences industry expands, more inputs are required from suppliers, creating additional jobs and investment opportunities in other
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“We have a supportive government,” said Roberts, naming Gov. Spencer Cox, a Republican, and Salt Lake City Mayor Erin Mendenhall, a Democrat, as examples of BioHive’s bipartisan support.
Local companies respond to COVID-19 A collaborative community that values diversity, BioHive has a strong trade association, BioUtah, and a wealth of public-private initiatives. These partnerships proved invaluable when Utah life science companies, health care providers, and local governments joined forces to address the coronavirus pandemic. While other industries suffered during the pandemic, BioHive remained a strong economic force. Roberts describes it as “recessionproof.” “There is a huge spotlight on healthcare right now during the COVID-19 crisis and a recognition of the industry and how important life science is to Utah,” said Roberts. “The life science industry in Utah creates opportunities for jobs and saves patients’ lives.” Amid the 2020 pandemic, the Utah drug discovery company Recursion and the University of Utah’s Center for Technology & Venture Commercialization founded Altitude Lab, an incubator and accelerator for early-stage life science companies. The lab provides a space where life science entrepreneurs can access a cutting-edge 14,500-square-foot facility equipped with nearly $1 million worth of the latest molecular and cell biology tools.
Other collaborative laboratory spaces in Utah include BioInnovations Gateway, which provides laboratory space for start-up companies and workforce development for students through the Granite School District, and Utah Nanofab, a premier multidisciplinary nanotechnology laboratory at the University of Utah that is expanding the frontiers of nanotechnology research.
Knowledgeable workforce and lifestyle advantage Even before students enter universities, Talent Ready Utah’s Medical Innovations Pathway program offers specialized courses and practical work experience for high school students to help them develop skills to qualify for careers with Utah’s most elite medical device and laboratory testing companies. The program is executed under the leadership of BioUtah and its industry partners. “We have 12 major colleges and universities and the youngest median age in the country, which means you get a young and very talented workforce here in Utah,” added Roberts. There are also lifestyle advantages that draw a talented pool of potential hires to Utah. “Utah’s a fantastic place to live, and we all love it,” said Roberts. “We have an industry that pays 50% higher than Utah’s average wage, and you can still get to the mountains or the desert, depending on where you are, in about 30 minutes. Utah’s seen a lot of growth in the last decade, and we’re wellpositioned for even more future growth.”
