Skilled, Available Workers Top Pharmaceutical Site Seekers' Wish List

Overview: One of the biggest contributors to a move is work force -- not only skilled, but available workers. That is a big problem today, because the national unemployment rate is so low. Pharmaceutical companies tend to look at the talent, but it is definitely an employee's market out there. A second major factor is presence of other pharmaceutical companies. If a location is right for one company, it probably offers the same advantages to others. Recruiting new employees with R&D or manufacturing skills, for instance, is easier if there is already a large base of pharmaceutical or biotech workers right in the neighborhood. Because the pharmaceutical industry has close ties with the medical community, it is common for R&D and manufacturing companies to locate close to major medical centers. On the other hand, pharmaceutical and biotech companies developing products for food crops or livestock generally prefer communities in farming areas. The reason so many large pharmaceutical companies and smaller biotech start-ups are expanding or locating in New York is because they are offered what they are looking for. With a strong supply of highly skilled labor, a significant incentive package, a favorable wage differential and sophisticated communications and transportation systems, Puerto Rico has also attracted pharmaceutical companies for decades.

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Format: HTML | Date: Jan 2003 | Pages: 9