While Knight Kiplinger published a commentary describing Uncle Sam’s reach into Greater Washington’s economy, a separate article in today’s Post spotlights the region’s strengthening biotech sector, noting acquisitions of three local companies totaling $18 billion.

Kiplinger might say that local biotech companies benefit from federal contracts and laboratories, but it’s worth noting that the companies leading these acquisitions — Roche, AstraZeneca, Qiagen — are probably not driven by access to the federal market. They see companies — MedImmune, BioVeris, Digene — succeeding in the marketplace and access to Greater Washington’s highly educated and specialized talent pool.

For more info about all of the region’s bioscience assets, check out GWI’s 2007 Bioscience Industry Overview. For another perspective on what these acquisitions mean, here’s a quote from Advancis CEO Edward M. Rudnic in the Post article:

“It helps in that people no longer say, ‘Where is Gaithersburg? Where is Rockville?’ ” said Rudnic, who was recently elected chairman of the Tech Council of Maryland. “Entrepreneurs can set up here knowing that they have the ability to draw locally for talent and they know when they go out to raise money people won’t question why they have located here.”
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Filed under: Economy, Regional News