Technology and the Competitive Advantage of Regions: A Study of the Biotechnology Industry in the New York State
- Author(s): Willoughby, Kelvin W.
- et al.
The study of New York’s biotechnology industry is published here in attempt to present the value of adopting a regional approach to the analysis of advanced technology industries, and to explore the extent to which distinctive economic policies are required, by both commercial and government organizations, to nurture the growth of industries based on knowledge rather than tangible resources. It presents evidence for the importance of focusing on the “region” as the unit of analysis in studies of industrial competitiveness, in addition to those of the nation or the individual firm.
This report summarizes the results of the comprehensive study of the biotechnology industry across the whole of New York state. A great deal of care was directed towards ensuring that organizations included in the study were properly classified and accurately documented; this has resulted in a body of information and an analytical framework which may serve as a benchmark for future studies of the industry and assessments of its evolving economic performance. The study has revealed a substantial, complex, and changing industry that is emerging with the potential to play a key role in the evolution of New York’s economy. There are a number of distinctive local biotechnology industry clusters within the state, each of which has special strengths, needs, and relationships to the surrounding community. Public initiatives or cooperative industry efforts to strengthen the position of biotechnology in New York will need to be tailored to the specific conditions that apply in each of the local clusters.