“Exports are the new money from outside Idaho’s economy, fuelling purchase from other businesses… Idaho agriculture exports 73% of its output.”
Biotechnology is a core strength to the Idaho economy and a focus area for global differentiation. “ In 2006 agriculture was responsible for generating $21 billion in total sales, 156,599 jobs, $4.2 billion in wages, and $8.4 billion in gross state product…Based on this analysis, agriculture is the single biggest contributor to the economic base of Idaho.” (University of Idaho, “The Contributions of Agriculture to Idaho’s Economy: 2006”).
The ITC is the state affiliate for the global BIO, the Biotechnology Industry Organization, which states the following regarding biotech:
Simply, biotechnology is technology based on biology - biotechnology harnesses cellular and biomolecular processes to develop technologies and products that help improve our lives and the health of our planet. We have used the biological processes of microorganisms for more than 6,000 years to make useful food products, such as bread and cheese, and to preserve dairy products.
Modern biotechnology provides breakthrough products and technologies to combat debilitating and rare diseases, reduce our environmental footprint, feed the hungry, use less and cleaner energy, and have safer, cleaner and more efficient industrial manufacturing processes.
More than 13.3 million farmers around the world use agricultural biotechnology to increase yields, prevent damage from insects and pests and reduce farming's impact on the environment. And more than 50 biorefineries are being built across North America to test and refine technologies to produce biofuels and chemicals from renewable biomass, which can help reduce greenhouse gas emissions.
Recent advances in biotechnology are helping us prepare for and meet society’s most pressing challenges. Here's how:
Biotech improves crop insect resistance, enhances crop herbicide tolerance and facilitates the use of more environmentally sustainable farming practices. Biotech is helping to feed the world by:
Biotech is helping to heal the world by harnessing nature's own toolbox and using our own genetic makeup to heal and guide lines of research by:
Biotech uses biological processes such as fermentation and harnesses biocatalysts such as enzymes, yeast, and other microbes to become microscopic manufacturing plants. Biotech is helping to fuel the world by:
Currently, the ITC is creating a BioTech industry cluster which will build global differentiation for Idaho biotechnologies. Clusters are geographic and or segmented concentrations of interconnected companies and institutions in a particular field. They encompass an array of linked industries and other entities important to competition.
Clusters increase not only demand for specialized inputs but also their supply:
Michael E. Porter, with Harvard Business School wrote: “Paradoxically, the enduring competitive advantages in a global economy lie increasingly in the local things—knowledge, relationships, and motivation that distant rivals cannot match.” We must connect and build strong biotech relationships and networks and identify industry segmentation within biotech that can build on Idaho advantages and resources.
BioTechnology has been a major part of Idaho’s economic and social culture and will be vital to Idaho’s economic future!
To be part of the BioTech Alliance email or call Jay Larsen at email@example.com or 422.9100 ext. 119.