At a time when many local industries are hurting, the field of biotechnology is booming in Wisconsin.  A recent report by LaToya Dennis of WUWM detailed the growth of the biotech industry in the state.  According to the story, the number of biotech companies in Wisconsin has grown from 200 in 2005 to around 600 today.  Paul Radspinner of BioForward—a Wisconsin based trade organization—says the rate of growth is sustainable:

“The population is getting older, the population needs medicine. Technology is becoming more complex. Things like stem cells, the number of stem cell companies that we have popping up here now that’s going to continue. It’s here and it’s going to stay,” Radspinner says.

Zach Brandon of the state Department of Commerce says the growth of the biotech field is due in large part to Wisconsin’s investment in the industry:

“Between 2002 and 2007 there was $50 million annually invested in biotechnology within the state of Wisconsin,” Brandon says.  He says Wisconsin put a lot of money into the biotech industry and it’s paying off. So far, it’s meant 34,000 high paying jobs. 

Wired Wisconsin recognizes that technology is vital to the economic well-being of the state.  Even with the recent national economic downturn, the Wisconsin Department of Workforce Development predicted that by 2016, technology-related jobs will show an increase of 246,000 positions.  Wisconsin should continue to foster an environment that is welcoming to hi-tech businesses.