The report, titled "2001 Gains and Future Opportunities," says that since 1995 total research and development by the state's bioscience cluster has increased 139%. The most significant spending growth was in the biotechnology sector, which rose 437% during that time.

With the spending increase, bioscience firms also shored up their real estate holdings as well last year. Occupied laboratory space within the bioscience sector grew by nearly 400,000 sf or eight%, to 5.6 million sf. The biotechnology industry saw the largest increase last year at 18%, adding nearly 90,000 sf for a total occupied laboratory space statewide of 589,000 sf in 2001.

"The bioscience cluster has an impressive reputation of growth and success. It is a key sector which continues to demonstrate that Connecticut's economy is technology-driven and well-positioned for continued future expansion," says Governor John G. Rowland. "Many of our Connecticut bioscience companies are developing truly leading-edge therapies, products and technologies that help treat people today, and undoubtedly will play a major part in improving medicine and quality of care in the future."

Employment in the bioscience industry in Connecticut also rose last year despite the turbulent national economy. The report states that bioscience employment rose three% to nearly 16,500 workers, resulting in an additional 471 jobs as compared to the year 2000. The average annual salary for a bioscience employee engaged in research and development held steady at approximately $63,000 by the end of 2001, the report notes.

Taking advantage of a state tax exchange program that began two years ago, biotechnology companies exchanged unused R&D tax credits to the State of Connecticut for 65% of their face value during the years 2000 and 2001, for a total reimbursement of $10.5 million and $6.3 million respectively. In comparison, Connecticut biotechnology companies invested $503 million in R&D spending during the same period, nearly 30 times the amount reimbursed by the state, according to state officials.

"The report's impressive findings, including the R&D tax credit information, offer solid evidence of the interrelated aspects of the bioscience cluster," states Peter Mueller, Ph.D., co-chair of CURE and senior vice president for research and development at Boehringer-Ingelheim Pharmaceuticals, Inc., of Danbury. "These data further demonstrate the importance of industry and state collaboration, and show the success story of bioscience in Connecticut."

The report also notes that during 2001 each bioscience job supported another 3.15 jobs elsewhere in the state's economy representing a total impact of nearly $6.4 billion, affecting another nearly 52,000 jobs statewide.