“The 159 active and research organisations surveyed reported a combined income of just over $7 billion and expenditure of over $4 billion in the last financial year*.

 

“Total income from core bioscience organisations was $351 million. Of this, $167 million was from exports of bioscience goods or services. Total expenditure by core bioscience organisations was $246 million. This represents a significant input into New Zealand’s balance sheet and local economy.

 

“The survey reflects the predominant areas of bioscience work are in innovative food and human nutrition and human biomedical science and drug discovery. However NZBIO is pleased to see New Zealand’s activity in this key area of science is also expanding across several fields vital to New Zealand, including environmental and bioprocessing technologies as well as animal and plant based biosciences.

 

“With an ever increasing demand for improved health treatments and outcomes and an ageing population, human biomedical science and drug discovery form a sector which is uncommonly resistant to the impact of economic cycles. New Zealand is already playing an important part in this industry through the discovery and development of new drugs and diagnostics.

 

“Bioscience use by region represents a broad spread across the country. As expected, the greatest numbers of bioscience employees are located in the centers of greatest population, with 54% of employees in Auckland and Northland. 

 

“In line with the Government’s focus on lifting New Zealand’s economic performance through science and innovation, organisations across core, active and research groups signaled an intention to increase the range of commercial outputs from their bioscience activity.

 

“Access to capital and regulation remain the most frequently reported constraints to R&D and commercialisation. NZBIO is pleased to note that both have been identified by the Prime Minister, John Key, as areas of reform.

 

Thirty percent of core organisations also reported their inability to match international salary levels was the most common reason for their inability to recruit staff from overseas.

 

“This situation could be addressed by the Government’s indicated tax reform,” Ms Dilley said.

 

In 2009 NZBIO’s Driving Economic Growth through Bio-Based Industries: The 2009 Bioeconomy Industry Summit Report highlighted six key actions that could be undertaken to develop a stronger and more vibrant bioeconomy in New Zealand. Recommended actions included taking a focused approach to maximise value capture from areas of competitive strength, improving access to capital for R&D and commercialisation, streamlining legal, tax and regulatory systems and improving commercialisation outcomes.

 

“The industry is clear about what it needs to succeed. NZBIO was pleased to see several of these recommendations addressed in the Prime Minister’s statement last week. Mr Key’s declaration that New Zealand’s future economic performance is dependent on harnessing science and innovation is recognition of the vital role bio-based industries have in boosting this country’s long term prosperity and economic security.

 

“Overall the Survey shows this country’s bioscience sector is expanding. This industry has set its targets high and is focused on delivering positive returns to all of New Zealand.”

 

Ends

 

*The proportion directly attributable to bioscience activities was not calculated in this case.

 

For further information contact NZBIO on (04) 916 1242