Title
Bioscience Healthcare Strategic Initiative Fiscal Year 2018-19 and Participation in 2019 BIO International Convention (Ordinance S-45001)
Description
Request to authorize the City Manager, or his designee, to implement the Bioscience Healthcare Strategic Initiative, including authorization of an Arizona Bioindustry Association (AZBio) membership and participation at the BIO International Convention in 2019. There is no impact to the General Fund. Funding to participate with AZBio and BIO International is available in the Genomic Facilities and Operations Fund, with the request not to exceed $75,000 total for the membership and convention efforts.
Report
Summary
Phoenix has grown to be a hub of bioscience activity in the Southwestern United States. Much of this success is due to world class medical centers, innovative research institutions, pro-business environment, a growing educated population, dedicated universities and spirit of entrepreneurship. In order to build upon those strengths, staff is continuing to implement a strategic plan introduced last year that is designed to grow, strengthen and sustain a healthy bioscience industry.
Staff has focused its economic development efforts in the areas of research, development, precision medicine, healthcare delivery, health-tech and education. Focusing on these areas strengthens and solidifies Phoenix as a leader in the nation’s bioscience healthcare industry. The Community and Economic Development Department (CEDD) will continue to ensure that there is a world-class real estate inventory that meets the unique needs of bioscience companies. This commitment includes support of the downtown Phoenix Biomedical Campus (PBC), the University of Arizona biosciences and healthcare initiatives, and the Arizona Biomedical Corridor in North Phoenix (ABC), in addition to other submarkets within the City. CEDD has been working closely with Arizona State University (ASU) and its development partner Wexford Science & Technology to bring prospective tenants to the planned first phase development on the PBC north of Fillmore. Some prospective tenants include a co-working accelerator lab that would generate new companies to grow in Phoenix.
Participation at BIO International, AZBio and other events like the MedTech conference allows CEDD staff the opportunity to showcase this important new building on the PBC and ensure its success. CEDD and its partners such as the Greater Phoenix Economic Council continue to generate qualified prospects to create a pipeline of businesses considering expansions or relocations to Phoenix through a multi-faceted marketing approach targeted at this industry.
Staff recommends continuing the City's annual membership with AZBio, an organization committed to building a top tier life science industry in Arizona, and a critical partner for Phoenix in this area. AZBio is the only statewide organization exclusively focused on building Arizona’s bio industry. As specialists, they are in the unique position to provide industry insight, programs specifically designed for life science organizations, visibility into investment opportunities, and a voice for the industry in the media, across the community, and with our elected leaders and government agencies at the local, state, and federal levels. The annual membership cost is $15,000 for the Fiscal Year 2018-2019.
Another key effort is promotion of Phoenix's bioscience efforts nationally and internationally, by attending the 2019 BIO International Convention in Philadelphia. At the 2018 Convention, over 18,000 attendees from 49 states and 67 countries attended, the most in 10 years. The City of Phoenix was recognized as one of the top new organizations in attendance. Along with CEDD, representatives from Arizona State University, University of Arizona, AZBio, Greater Phoenix Economic Council, Wexford Science & Technology and three Phoenix-based biomedical companies joined the delegation. The delegation held more than 90 meetings and fielded hundreds of inquiries about Phoenix’s dynamic bio industry. Attendance at this unique gathering provides valuable networking and partnership opportunities and provides synergy with our attending partners looking to promote their research and products to an international audience. The knowledge and contacts generated by attending this convention will be used in communicating our competitive advantage, existing ecosystem and resources in Phoenix to attract and grow companies in this industry to thrive and generate quality jobs for the community.
Phoenix's involvement and partnership with these two organizations will elevate the City's visibility as a hub for bioscience, building a critical mass of bioscience-related companies and attracting and developing top talent vital to sustain the long-term growth of a thriving bioscience healthcare industry. Planning is currently underway, subject to Council authorization of funding, for the BIO convention; however, preliminary estimates for participation, such as booth, advertising, equipment, and shipping costs are approximately $60,000. If approved by Council, staff will work with industry partners, such as University of Arizona, Arizona State University, and TGen to co-locate at the convention. This shared effort will allow the City to reduce costs while assisting our partners in promoting Phoenix, as it did at the 2018 BIO Convention.
Financial Impact
There is no impact to the General Fund. Funding to participate with AZBio and BIO International is available in the Genomic Facilities and Operations Fund, with the request not to exceed $75,000 total for the membership and convention efforts.
Concurrence/Previous Council Action
This item was scheduled to be heard at the Planning and Economic Development Subcommittee meeting on Sept. 18, 2018.
Department
Responsible Department
This item is submitted by Deputy City Managers Karen Peters and Deanna Jonovich, and the Community and Economic Development Department.