Biotech Center In Philadelphia Suburb Generating Millions For Local Economy
By Brad Segall
DOYLESTOWN, Pa. (CBS) – Amid a much less than robust economy over the last few years, the Pennsylvania Biotechnology Center in Doylestown has been quietly generating hundreds of millions of dollars for the local economy.
The results of an economic impact study reveal not only huge benefits for Bucks County, but also Pennsylvania.
Since 2009 the center has pumped nearly $600 million into the economy and created more than 500 jobs.
Forty small startups are now housed at the center where scientists hope their research will lead to cutting edge therapies for a variety of ailments.
“We’re created in part by the Hepatitis B Foundation so here at the center is this mission driven organization that’s determined to turnout new therapies and approaches to helping people with Hepatitis B and liver cancer,” says Dr. Timothy Block, the center’s president.
He says the impact study is not only a report card that validates the work they’re doing, but he hopes it can be used as a marketing tool that will focus more attention on the center which he believes will only continue to grow.