NEPA’s regional strengths in healthcare and bioinformatics align with the needs of companies focused on research and testing. The area is rich with opportunity and talent to provide corporations with the workforce to grow and expand their business. With 24 colleges and universities within a one-hour drive, the talent is ready and able to work.
NEPA REGIONAL STRENGTHS
- Research Opportunities in Geriatrics: NEPA has an aging population, which creates opportunities for Research & Testing. Nearly a third (32.3%) of residents 65 years or older have lived in NEPA since 1969 or earlier. An aging population sees increased disease prevalence, which can be beneficial to companies needing a readily available pool of patients to test new equipment and pharmaceuticals in clinical settings.
- University-based Research Programs are Growing: Research & Testing companies have strong need for employees trained in bioinformatics – a recognized strength at universities throughout NEPA. NEPA has the graduates and workforce to support research activities for corporations looking to locate in the area. Within a 100-mile radius of the 8-county region, there are a total of 233 degree-granting higher education institutions; of which 191 report degrees/majors in biological, biomedical, health and science fields. There are currently over 147,000 residents living in NEPA with a Bachelor’s degree or higher; of which, approximately 14,000 have a degree in Biological/Agricultural/Environmental or Physical/Related Sciences.
- Over $2 million in Federal Research Dollars Flowing into NEPA: NEPA has attracted over $2 million in NIH funds over the past five years. Institutions who call the region home such as The Commonwealth Medical College, Wilkes University, University of Scranton, and Sanofi Pasteur are recipients of these highly competitive research federal research grants.
- Geriatric-related equipment, research design, production, and consultation are in high demand due to the region’s demographics. Marketing logistics and delivery to large markets of geriatric-related equipment represents an opportunity for immediate return on investment.
- Existing bioinformatics companies already have access to skilled workforce through multiple university partnerships. This, coupled with our region’s low cost of living, urban amenities, and close proximity to major metropolitan markets makes for an investment opportunity that works at every level.
ASSISTANCE ON WORKFORCE AND TRAINING
- TecBridge has compiled an asset inventory of regional intellectual assets that includes more than 1,000 faculty members and 700 pieces of scientific equipment available for use by the private companies.
- A full continuum of technical assistance and funding is available to train and develop the workforce needed for current and future employers.
UNIVERSITY AND COLLEGE SUPPORT FOR RESEARCH & TESTING
- NEPA has made investments in new research labs and clinical skills space dedicated to bioscience studies and creating opportunities for companies to lease labs and incubator space.
- The focus on creating dedicated research space is a priority of several universities in the region who are working in partnership to create research space as well as growing the regional workforce — the two prime factors that corporations are looking for when making investments.
- Universities and colleges throughout NEPA are turning their focus on the development and creation of medical testing devices and equipment. This growing talent pool will be an asset to companies seeking to expand or locate their life sciences operations in NEPA.
- The Commonwealth Medical College (TCMC) and regional universities are currently working in close cooperation with regional companies, economic development officials, and healthcare institutions to expand the bioscience economy.
- TCMC focuses their biomedical research and training programs on regional health issues prevalent in NEPA. TCMC and regional universities has space for private start-up companies readily available. Faculty members at TCMC have attracted more than $13 million in research dollars to date.
More than 1/3 of the nation's population can be reached within an overnight delivery. New York City and Philadelphia are a two-hour drive from NEPA.