KPMG LLP

KPMG LLP
BioAlberta

October 16, 2007 13:30 ET

Alberta BioIndustry Projects Revenues to Jump 400 Percent in Next Three Years

A BioAlberta and KPMG study forecasts major employment increase

EDMONTON, ALBERTA--(Marketwire - Oct. 16, 2007) -

Attention - Business/Technology writers

The bio sector in Alberta is expected to grow significantly -according to a joint survey presented today by BioAlberta and KPMG LLP.

The industry survey, BioIndustry in Alberta: State of the Industry 2007, reports that respondents to the study project industry revenue to increase by more than 400 percent within four years, from $814 million CAD in 2006 to an estimated $3.6 billion by 2010. The increase is expected to fuel the demand for employees, adding an estimated 1,200 jobs to total 5,983 positions (a 20 percent increase) in the industry by 2010.

Jonathan Kallner, Partner and National Industry Leader, KPMG LLP, and Ryan Radke, President of BioAlberta, presented the findings in Edmonton this morning at an Alberta bioindustry breakfast to industry executives. The survey, distributed to more than 130 companies in the biotech, bioproducts, and bioinformatics business in the spring of 2007, provides a review of the state of this industry in the province, examining revenue growth, research and development, human resources, and sources of funding and capital.

"We've made significant investments in research in Alberta that are starting to pay off in the form of a high growth, high margin, and high value-added knowledge based industry," says Ryan Radke, President of BioAlberta. "However, we need to protect the investment we've made by supporting the industry with a policy framework that will bring more private sector investment, facilitate innovation and commercialization, accelerate research and development, and perhaps most importantly, attract and retain a skilled workforce in a province where labour challenges are an ongoing concern."

Along with this bullish outlook, the report flags several critical issues facing Alberta biotechnology companies in the coming years. These include attracting skilled employees, expanding within North America, and securing additional investment and financing.

"This joint initiative is very important to understanding future opportunities in Alberta," says Jonathan Kallner, Partner and National Industry Leader at KPMG LLP. "As Alberta's knowledge-based economy continues to grow, reports such as this will allow us to measure and benchmark the growing bioindustry on a national and global level."

Respondents also listed potential initiatives that could positively impact the growth of their company. Examples include Scientific Research and Experimental Development tax credits, additional funding for commercialization and marketing programs.

About KPMG in Canada

KPMG LLP is the Canadian member firm of KPMG, a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 148 countries and have 113,000 people working in member firms around the world.

The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss cooperative. Each KPMG firm is a legally distinct and separate entity, and describes itself as such.

About BioAlberta

BioAlberta is the central voice and the organizing hub for the bioindustry in Alberta.

BioAlberta is a private, not-for-profit industry association, representing Alberta's growing bioindustry. BioAlberta currently lists over 130 members, including producers, users, and supporters of biotechnology activities in Alberta.

BioAlberta activities are focused in the following areas:

- Government advocacy

- Industry promotion

- Increasing industry access to financing

- Facilitating access to human resources

- Business development and networking opportunities

Alberta's bioindustry is a broad field of endeavour encompassing biotechnology, environmental science, medical technology, industrial bioproducts, agriculture biotechnology, bio-informatics, and natural health products.

BioAlberta is a member of the BiotechAccord, which includes other bioindustry development organizations, as well as the national bioindustry organization, BIOTECHCanada.

For more information, please visit www.bioalberta.com.

Contact Information

  • For interviews and more information on this study,
    please contact:
    Media Profile
    Rachel Thexton
    (604) 729-1448
    Email: rachel@mediaprofile.com