nola bio lunch 2012(4)
TRANSCRIPT
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Building on Innovation:Competing in the 21st Century
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Sweeping Away the Old Rules
• Globalization
• Technology
• Demographics
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Infrastructure: Ports
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Employment Changes 1990 -2011
Source: Bureau of Labor Statistics, Occupational Employment Statistics (OES);
Manufacturing Professional and Business Services Education and Health Services
U.S. Metro 1990 2010 % Change 1990 2010 % Change 1990 2010 % Change
RESEARCH TRI. 76.9 62.1 -19% 62.4 121.4 95% 51.6 118.5 130%
SAN DIEGO 123.4 90.7 -26% 124.1 198.8 60% 84.1 147.4 75%
PHILADELPHIA 246.9 130.1 -47% 213.6 286 34% 278.3 434.5 56%
WASHINGTON 50.8 35.2 -31% 289.8 557.8 92% 152.7 280.6 84%
BALTIMORE 128.5 59.5 -54% 123.1 191.4 55% 145.8 244.6 68%
SAN FRAN 170.5 113.4 -33% 275.7 339.8 23% 173.7 235.5 36%
PITTSBURGH 130.6 85.5 -35% 126.6 155.6 23% 160.2 239.8 50%
NEW YORK 867.0 367.6 -58% 957.4 1529.9 60% 1008.1 1257.4 25%
DENVER 84.8 59 -30% 129.5 202.6 56% 72 143.9 100%
NEW ORLEANS 46.9 31.2 -33% 52.6 68.6 30% 58.7 76.8 31%
USA 17695 11743 -34% 10848 16991 57% 10984 19838 81%
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Education and Health Services:Rebuilding after Katrina
Source: Bureau of Labor Statistics, Occupational Employment Statistics (OES);
All Employees, In Thousands
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• Children of the 60s, have redefined every age they entered
• When will they retire? For most, not for years
• Seniors from 65-75 will be the fastest growing group this decade
• Will grow from 28 to 42 million – a 50% growth by 2020.
The Trend Setters
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• Late teens to early 30s - 83 million
• The largest generation in US history
• At the prime household formation age
Gen Y
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Building a 21st Century City
• Well Managed• Vibrant• Educated• “Raw Materials”• Entrepreneurial• Capital availability
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Denver: Bond Issue
• In 2004, Fastrak Referendum • $2 Billion Bond Approval• 119 miles of light rail• 7 Counties & 32 Municipalities
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Vibrant: Parks, Culture & Design
Millennium Park, Chicago
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Source: The College Advantage, Georgetown University Center on Education and the Workforce
Weathering the Economic Storm
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Education: Changes in Educational Attainment, 1990-
2010
Source: American Community Survey, U.S. Census Bureau
% HS Grad
% Bachelors
% Grad Degree
U.S. Metro 1990201
0 1990201
0 1990201
0
Research Triangle 82% 88% 20% 26% 12% 18%Philadelphia 76% 87% 14% 19% 8% 13%San Diego 82% 85% 16% 22% 9% 13%Boston 81% 91% 17% 24% 11% 18%Seattle 88% 91% 21% 24% 9% 13%New York 75% 84% 15% 21% 11% 14%Baltimore 75% 88% 14% 20% 9% 15%San Francisco 82% 87% 22% 27% 13% 17%Pittsburgh 77% 91% 12% 17% 7% 11%Denver 86% 89% 20% 25% 9% 13%New Orleans 78% 87% 14% 16% 8% 9%U.S. Total 75% 85% 13% 18% 7% 10%
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Singapore and Jamaica, 1960-2011
Per Capita incomeSingapore Jamaica
1960 $ 5,100 $5,200 2011 $ 43,000 $8,000
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Raw Materials
TOTAL 2010 U.S. R&D INVESTMENT: $395,800,000,000
Source: Battelle, R&D Magazine
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Raw Materials Annual R&D Spending by Country
Source: Battelle, R&D Magazine, OECD, IMF, CIA
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Raw Materials
• Scripps Research Institute (TSRI) biomedical research facility, Florida: $310M Public Funds
• Louisiana State University Medical Center and Veterans Administration complex, New Orleans: $2B in Federal and State Funds
• Cleveland Clinic and the Lou Ruvo Brain Center, Las Vegas: $100M part of a larger development plan known as Symphony Park--a $2.8B investment.
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High-tech industry is a bright spot in an otherwise gray economic picture
High-tech jobs have grown nearly four times faster than overall economy during the past 18 months.
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Entrepreneurial:Research Triangle
It is now the largest high-tech research park in North America, boasting 20 million sq. ft. of developed space, and home to 157 companies, employing 39,000 people. It is a center of innovation.
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UC, San DiegoTorrey Pines Mesa
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Johns HopkinsForest City Science + Technology Park
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Central Florida: “Medical City”• Sanford-Burnham Research Institute biomedical
research facility, Florida: $310M Public Funds• Since 2006, 5,000 jobs created• University of Florida's Research and Academic
Center• Nemours Children's Hospital• Orlando Veteran's Affairs Medical Center • UCF College of Medicine
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Pittsburgh
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The Collaborative Innovation Center at Carnegie Mellon
JOBS To be Created: 489
NEW PROPERTY TAXESCollected During TIF: $239,000Collected After Expiration: $598,000
SPURRED INVESTMENT$55 Million
State of the Art facility adjacent to Carnegie Mellon University that will:
◦ Attract Private technology firms to expand research and education collaborations
◦ Accelerate development of new technologies
◦ Support growth of region's technology industry base
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From Vacant Nabisco Building to Google Offices
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Ben Franklin Partnership• At 25, Ben Franklin Technology Partners is one of the
nation’s longest-running technology-based economic development programs.
• BFTP has provided both early-stage and established companies with funding, business and technical expertise and access to a network of innovative, expert resources.
• Goal: To accelerate technology development and commercialization in the state of Pennsylvania, and to create high-paying, sustainable jobs for Pennsylvanians.
• Serve as catalysts for economic growth.• Launched with high hopes in 1983, BFTP has a 3.5-to-1
return on investment that the organization has yielded for every state dollar invested.
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Venture Capital Availability:International
Source: Dow Jones VentureSource, 2008; PriceWaterhouseCoopers, National Venture Capital Association
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Capital Availability:Regional
Source: Dow Jones VentureSource, 2008; PriceWaterhouseCoopers, National Venture Capital Association
Region By Millions % of TotalUSA $ 17,222 100%Silicon Valley $ 6,990 40%New England $ 2,161 12%NY Metro $ 1,413 8%Southeast $ 986 6%LA/Orange County $ 943 5%San Diego $ 903 5%Midwest $ 740 4%Northwest $ 705 4%Texas $ 645 4%Dc/Metroplex $ 546 3%Philadelphia Metro $ 424 2%Other US $ 1,235 7%
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Venture Capital & Universities
TOTAL UNIVERSITY R&D:• Louisiana State University Health Sciences Center:
$59,473,000• Tulane: $153,242,000
Start-Ups
Venture CapitalInvestment
($M)2000 0 $ - 2001 3 $ - 2002 0 $ - 2003 1 $ 0.5 2004 0 $ - 2005 0 $ - 2006 2 $ 5.0 2007 3 $ 1.0 2008 5 $ 8.2 2009 1 $ 17.0 2010 1 $ -
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1-2 December 2009
Principles of Success
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1. Leadership
2. Strategy
3. Institutional Capacity
Hong Kong
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4. Financing Infrastructure
5. Education
6. Design Excellence
Highline Park, New York City
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Where Will the New Roads Lead…