USC President C. L. Max Nikias on the possibilities of biotechnology in Los Angeles:
“Over the next 20 to 30 years, it will be biotechnology that will be the fastest growing sector of the global economy. In 2013, the international market for biotech was valued at about $270 billion. By 2020, it is expected to more than double to over $600 billion.
While Silicon Valley has long been known as a titan of computer technology, the stage has been set for our region to shape the future of biotechnology. We now have an unprecedented opportunity to take advantage of the extraordinary resources that already exist in this region. A recent report discovered that Los Angeles County is home to more than 2,400 life sciences companies, employing nearly 70,000 people, creating an economic impact of over $40 billion. But it is biotech that brings together the many branches of the life sciences, leading to new technologies and treatments, helping us dramatically improve the quality of human life.”
— C. L. Max Nikias
President, University of Southern California
Read the full address to business and civic leaders, delivered on June 8, 2017.