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Greater Philadelphia has a rich depth of companies in the biotechnology, pharmaceutical, medical device, and associated research and development niches. Eight of the world’s largest pharmaceutical companies have sites within a 50-mile radius of Center City Philadelphia and nearly 500,000 people in the region are directly or indirectly employed by the biotech and pharmaceutical industries.

In May 2004, Shire Pharmaceuticals, a specialty pharmaceutical company headquartered in Basingstoke, England, chose Greater Philadelphia as the ideal location to consolidate its activities in the US. “The opening of our North American headquarters in Pennsylvania was a tactical investment in the future of Shire and underscores our commitment to the US market,” Shire CEO Matthew Emmens says.

“The Greater Philadelphia area is one of America’s leading pharmaceuticals and biotechnology centres with about 80% of the world’s largest pharmaceutical companies maintaining a presence in the region.”

With the move, Shire joined the many life sciences companies attracted to Greater Philadelphia, firmly establishing the region as a top-tier place to do business. The Milken Institute, for example, has declared Greater Philadelphia the third hottest region in the US for life sciences; the area is home to four times the national concentration of pharmaceutical manufacturing facilities and more than twice the national concentration of chemical manufacturing facilities.

The 11 business-friendly counties in South-eastern Pennsylvania, Southern New Jersey and Northern Delaware make a great home for bioscience companies. In addition to being a biotech hub, the region offers:

Access to the market

Greater Philadelphia’s location is a prime asset as it is perfectly positioned between the nation’s financial hub (NYC) and the nation’s political hub (Washington DC).

Lower cost of living

The cost of living in Greater Philadelphia is lower than in most other major US metro areas, making the region highly attractive to both employers and employees.

Powerful real estate market

The region’s corporate real estate market had a record year in 2005 with an over 40% increase in leasing activity. At the same time, office construction is at its highest level in years, with two large office buildings being added to the Philadelphia skyline.

One of the la rgest li fe scie nces clusters i n the country Greater Philadelphia houses 53,000 workers in core life sciences industry, 310,200 workers in supporting industries and the nation’s highest industrial life sciences R&D of $443 per capita. Of the annual investment in venture capital in the region in 2005, 44% went to bioscience operations.

A talented workforce

The region’s 83 colleges and universities, five medical schools and four NCI Cancer centres make the area appealing to businesses and corporations. Greater Philadelphia’s business community has attracted three times the national average of engineers, architects, scientists and computer professionals.

As the global economy becomes increasingly competitive, access to new markets such as those in the US will be increasingly critical. With its great location, low cost of living and high quality of life, Greater Philadelphia is a prime location for British companies to locate their businesses; the perfect entry point into the US market.

For more information, contact:
Select Greater Philadelphia
200 South Broad Street
Suite 700, Philadelphia
PA 19102-3896
Tel: 1-800-221-0774
E-mail: contactus@selectgreaterphila.com

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