Efforts are also underway to provide the research facilities and form the capital base needed to finance and sustain the start-up enterprises that will commercialize this research. Incentives to form a statewide bio-seed fund and venture investment tax credits have been introduced in the Legislature. In November, voters will be asked to amend the state’s constitution to permit Arizona’s universities to hold equity positions in new start-up businesses, a common practice that would boost university revenues.
In addition, university research parks are being expanded, and Phoenix, Tucson, and Scottsdale civic leaders have announced new science and technology initiatives. More than 1.3 million square feet of research space is under construction throughout Arizona, with considerably more on the horizon.
Arizona’s biotech industry is small but rapidly expanding. In the past eight years, the employment base grew by 80 percent, outpacing national growth trends. It has the capacity to develop strong specializations in niche markets, employ thousands in well-paying jobs, and generate significant revenue for the state. Competitive states offer an array of programs and services to support the creation and growth of new, often homegrown businesses. Arizona needs to do the same.
Any state or region doing world-class science must aspire to be a place where world-class scientists want to live. Inventive, resourceful people want to be around others like themselves, and they will seek out smart places and spaces that support unique experiences.
What are the elements of a “smart place,” what are the local needs, and how can those be addressed? These were among the questions the Maricopa Regional Arts and Culture Task Force was asked to answer. The 30-member Task Force was established by the Foundation in 2003 in partnership with The Virginia G. Piper Charitable Trust and the J.W. Kieckhefer and Margaret T. Morris foundations.
The Task Force’s final report, Vibrant Culture Thriving Economy, outlines a series of steps, including the formation of a regional arts partnership, to position the arts squarely in regional economic development plans and to facilitate collaboration among an array of local arts organizations. A broad-based coalition of business and philanthropic leaders has formed the Maricopa Partnership for Arts and Culture (M-PAC), and is proceeding with plans to support a vibrant and diverse series of arts and cultural programs in the Phoenix metropolitan region.
Other regions once behind in developing their bioscience sectors – San Diego, Atlanta, and Portland, Oregon – have carved out a unique niche by building on existing resources and targeted strategic investments. Arizona has begun to pursue a similar strategy, rather than spreading limited resources across multiple areas.
When leadership remains unified and committed to a shared goal, remarkable achievements can unfold in a relatively short timeframe. A prime example: the collective steps taken by Arizona’s government, education, business, and philanthropic leaders to attract IGC and TGen. Now, these same forces are working to advance plans for a medical school in Phoenix adjacent to TGen.
Arizona’s Biosciences Roadmap, the blueprint developed with guidance from the Battelle Memorial Institute, cites the need for Arizona leaders to concurrently focus on building collaborations across institutions and supporting the commercialization that can turn research into quality medical practice and a critical mass of local biotech firms. This is an essential element of a much broader set of strategies needed to position Arizona competitively in the years ahead.
Arizona has generated impressive momentum in building its bioscience base. The challenge now is to stay the course, to follow the blueprint so carefully laid out. With committed and sustained leadership, Arizona can achieve this vision.
John W. Murphy
President and
Chief Executive Officer
