Banking on biotech – Debate rages as Colorado joins other states seeking high-tech centers

The wealth-generating potential of biotechnology has rapidly made this industry a target for local and regional economic development. Biotechnology was recently likened to a fast-spreading virus that is infecting governors, mayors and economic development officials across the nation and around the world.

Playing upon this metaphor, a symptom of the disease is certainly the urge to direct millions of public dollars toward recruiting scientists and building biotech parks – all done with the hope of becoming the next biotech industry powerhouse. The epidemic is so new that little is known about effective treatment protocols or outcomes. However, a gaggle of economic development consultants is now in the lucrative, high-volume business of delivering prescriptions to the afflicted.


In fact, there is increasing evidence that the biotech industry may converge with nonbiological technologies into a new and advanced industrial identity as science and business increase their creative collisions. No state or region looking toward their economic future will want to sit on the sidelines.

By Robert E. Olson

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