Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle

Denver
The Northwest submarket lacks any current development
projects, however, the Fitzsimons Life Science District
along with the Anschutz Medical Campus in Aurora, Southeast
of downtown Denver, are among the largest life sciences
developments in the country. Start-up companies and
fully-developed companies alike are accommodated and
have access to research, resources and facilities.
Industry framework
Intellectual capacity
High-tech research and hospital/medical industries employ
nearly 188,000 people employed in the Denver area. Ten
higher education institutions operate life sciences programs
and research resources. Among them are Colorado State
University, the University of Colorado at Boulder and the
Colorado School of Mines. The largest research facility in
Colorado is the Fitzsimons Life Science District in Aurora.
With swift growth in the industry over the past few years,
Fitzsimons has created a central hub for research dedicated
to life sciences, healthcare and education.
The state is home to nearly 400 companies in the bio-related
fields of medical devices, pharmaceuticals, agricultural and
traditional biotechnology including the likes of Allos Therapeutics,
Amgen, Array, Sandoz, Somalogic and Roche.
Innovation capital
The University of Colorado offers the Colorado Initiative in
Molecular Biotechnology, which cultivates research and
development in life sciences. The initiative was established to
attract exceptional students to integrate research and teaching
in biotechnology development. The university’s medical school
also offers a new stem cell research center made possible by a
$6 million grant from the Charles C. and June S. Gates Family Fund.
50 Americas | Jones Lang LaSalle
Fiscal & political resources
The Colorado BioScience Association works to further Metro
Denver and Colorado’s life sciences community. Aiding
this effort are Colorado programs such as grants, sales tax
exemptions, and support for start-up companies.
The state has five venture firms predominantly or solely
focused on funding local life sciences companies as well as
several other programs and grants available:
■ Bioscience Discovery Evaluation Grant Program: Aims to
foster growth of the state’s bioscience industry by expanding
bioscience research and accelerating development of
new products and services. Program funding is disbursed
through proof-of-concept grants, Early-State Bioscience
Company grants, and research institution grants for
infrastructure development.
■ Biotechnology Sales and Use Tax Refund: Refunds are
available for state sales and use taxes paid on the sale,
storage, use, or consumption of tangible personal property
to be used in Colorado directly and predominantly in
research and development of biotechnology.
■ Bioscience and Life Science Fund: A 5-year, $31.5 million
grant from the state of Colorado aids start up companies
and research institutions in Colorado.
Outlook
Denver’s life sciences industry is trending positively. Budding
start-ups have the intellectual and innovation resources
needed to develop into successful and solid companies,
while established companies enjoy access to resources with
the presence of the Fitzsimons Life Science District and the
Anschutz Medical Campus. However, it is evident that the
market requires investors and landlords who specialize in the
development of research facilities. Many current facilities have
been retrofitted, and having these types of facilities readily
available will support forward momentum in Colorado.
Tof C
The Northwest
submarket,
encompassing
the cities of
Broomfield,
Boulder,
Louisville and
Longmont,
is the most
prominent and
home to nearly
100 life sciences
companies