SCBIO issues third South Carolina life sciences strategic plan to drive industry growth
SCBIO CEO Erin Ford only has to look at recent history to understand the opportunity in front of South Carolina life sciences.
Life sciences has a $12+ billion economic impact in the Palmetto State, with more than 700 firms involved and over 43,000 professionals employed in the research, development and commercialization of innovative healthcare, medical device, industrial, environmental, and agricultural biotechnology products.
It represents a significant economic development focus for the state, with strong life science recruiting initiatives led by the South Carolina Department of Commerce and regional economic development teams –so much so that Governor McMaster recently issued an Executive Order to emphasize the industry in domestic and international recruiting efforts.
Now armed with the industry’s third multi-year Strategic Plan to build, advance, innovate and grow the industry, Ms. Ford sees an opportunity to “take South Carolina life sciences to an entirely new level” over the next handful of years, she said as SCBIO published the 2021-2022 Life Sciences Strategic Plan recently.
Ms. Ford is no stranger to leading the industry. Since taking over as Interim CEO for the departed Sam Konduros just weeks ago, she has expanded emphasis on investor relations and existing industry support strategies, the spearheading of integrated marketing initiatives, implementation of the new SCBIO innovation platform, and a strong emphasis on economic development initiatives – from an industrywide presence at this week’s PGA Tournament at Kiawah to next month’s BIO Global conference and the Fall MEDICA event in Germany.
Guided by the new Strategic Plan, which spans 24 months and continues the vision of the last two editions, SCBIO and SC life sciences are clearly focused on doing “the right things to continue to build, advance, innovate and grow” the multifaceted industry.
SC Life Sciences 2021-2022 Strategic Plan is shaped by input from SCBIO’s Board of Directors and dozens of contributors from industry, higher education, economic development, government and supporting organizations and authored by the SCBIO team. The 70-page document includes detailed sections on the COVID Effect on the industry, 2020 Highlights, documentation of the breadth and depth of the Industry Segments in the state, Priority Initiatives, and specific Objectives, Plans and Budgets to advance life sciences.
A shorter summarized version is available to media and business leaders interested in learning more about the fastest-growing industry in South Carolina, as documented recently by Dr. Joseph Von Nessen, economist with the Moore School of Business at the University of South Carolina. To request a copy, interested persons should email firstname.lastname@example.org.
South Carolina life sciences has seen a near-doubling of firms and 40% increase in life sciences’ direct employment since 2017 alone, which combine to make it the fastest growing industry sector in the state, according to recent data provided by Dr. Von Nessen, state research economist and a noted economic development expert. It also has companies in 42 of 46 counties – a far greater penetration than most major industries possess.
The 2021-2022 plan seeks to continue the growth strategies of the industry evident over the last four years during which Ms. Ford served as EVP/COO prior to assuming the interim role of CEO. During those four years, SCBIO has more than doubled membership and quadrupled revenues, implemented a strong economic development focus, and launched a new innovation platform. It expanded its role as the voice of the life sciences industry, implemented a surging workforce development initiative and created ongoing programs to encourage participation by women in life sciences, to support diversity-equity-inclusion initiatives and to encourage student participation in the industry. The organization also successfully led industry and organizational pivots during the COVID pandemic.
“Prior SC life sciences plans have performed admirably in helping South Carolina raise its profile as an emerging leader in the life sciences,” said Ms. Ford. “Our innovative companies and exceptional workforce are drivers in strengthening this industry, and we know that the life sciences will continue to play a critically important role in our state’s economic success. We intend to build on our Board’s and team’s vision to continue this momentum and to build, advance and grow life sciences in our state.”
For additional information on SCBIO, visit www.SCBIO.org.