12:00 am
August 26, 2011
Think it here, make it there. A typically thoughtful column by Bill Virgin in Seattle Business suggests that’s the path being taken by key innovators in our state. Virgin’s column, Losing Ground, looks at what may be a troubling pattern. He acknowledges Washington’s competitive advantage in research and development, particularly in emerging industries.
Washington does well in idea generation. Yet, he notes, it’s not enough. Virgin cites several examples like this one.
Dendreon is a Seattle biotech company and a rarity in its industry for seeing its product—Provenge, a prostate-cancer treatment—through years of testing and regulatory review to commercial sales. But when it came time to scale up manufacturing, Dendreon announced it was building a production facility in … Georgia. It later announced plans for another plant in … California.
He sensibly suggests that state officials investigate why local businesses are expanding or relocating elsewhere.
If there’s a pattern to the reasons businesses based here move or spend elsewhere, Washington will have to face up to those problems. The same factors that motivate companies to leave also deter others from coming here.
Right. House Democrats linked to some good news, showing Washington ranking first in new business creation. We need to understand how to make sure the businesses that start here stay here.
Categories: Categories , Current Affairs , Economy.