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State still a breeder for biotech
| Investors' disinterest in California's established biotechnology clusters has played prominently in recent local headlines.
Industry leader Genentech chose to build its new $250 million facility in Oregon, where corporate income tax structures are more favorable. Then there was the start-up firm that passed on Vacaville in order to capitalize on biotech tax breaks offered in Washington. And most recently Chiron parent Novartis announced it would build a $400 million vaccine plant in the United States, but not in California. "There were requests for proposals from Roche for a similar kind of vaccine plant about six months ago," recalled Mike Ammann, president of the Solano Economic Development Corp. An economic analysis performed at the time found that if the proposed Roche plant were to locate in Solano County - which it will not - the $262.5 million facility would generate more than 10,000 full- and part-time jobs and have a total local economic impact of $1.2 billion in its first year of operation. |
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