Representatives of the North Bay Life Science Alliance and the Marin Economic Forum are set to testify before the San Rafael City Council, on October 19th, in favor of BioMarin’s request to build a new 72,396 sf building in San Rafael to house another 239 employees. Chris Stewart, CEO and Chairman of the NBLSA, notes that, “The addition of the 239 jobs will have an economic impact of $68 million annually and increase BioMarin’s total local/regional spending to $401 million annually.”
Stewart goes on to note that the life science industry accounts for more than $2.3 billion of the North Bay’s annual economy, with significant growth taking place in Marin county, where annual industry job growth leaped from 50 new positions annually to 350 in 2014 in Marin County alone. A Marin Economic Forum study reports that each life science job increases the local economy and spending by $250,000.
A lynchpin of the life science industry in Marin County and the North Bay, BioMarin was recently ranked as the 10th most Innovative Company in the world. On the 19th, the NBLSA and the Marin Economic Forum will be reporting on the economic benefits that BioMarin’s proposed facilities expansion will deliver to San Rafael and the North Bay as a whole.