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Laying the Groundwork
Steve Halasey
November 1, 2006
1 Min Read
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EDITOR'S PAGE
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In recent years, medical device companies have become favorite targets for economic development agencies that represent regions of all sizes, both within the United States and beyond.
When it comes to supporting the growth of such companies, however, the policies and initiatives of economic development agencies are sometimes woefully ineffective—and often lack coordination with efforts being undertaken elsewhere in the economy.
This absence of coordination is especially glaring among government agencies. In a recent article on "The New Federalism in Life Sciences Policy" (The Scientist; www.the-scientist.com/2006/11/1/22/1), Melvin L. Billingsley and Michele M. Washko of the Life Sciences Greenhouse of Central Pennsylvania offer the following as key ways that governments can "develop coherent policies that simultaneously use scarce funding resources wisely, promote better health outcomes, and encourage economic development."
Encourage understanding of the relationship between basic research funding and the need for infrastructure.
Recognize that technology transfer may not translate into immediate regional economic gain.
Continue cooperative workforce development efforts between state and federal governments.
Establish state-level vehicles for vetting and funding early-stage companies.
Form a high-level science advisory board in each state, to sort through state policy issues and foster relationships at the federal level.
In this issue, MX offers the first in a two-issue series of articles on regional development opportunities in the United States. These articles review key factors that make some regions attractive for medical device companies. Company executives should pay particular attention to locations whose policies demonstrate an understanding of the broad needs of the nation's healthcare industries.
Copyright ©2006 MX
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