The life sciences industry generates a significant economic impact on the state of Texas. As the 12th largest economy in the world, Texas is an economic engine that continues to lead the nation in job creation and innovation. Home to more than 3,900 life science and research firms, and approximately 97,600 workers in related fields, Texas is one of the leading life science states in the country.
THBI advocates on behalf of its membership for issues including: economic development, research oversight and appropriations, ethics and regulatory issues, manufacturing and tax issues affecting the Texas life science industry. These policies affect every segment of the life sciences, from academic research to agricultural biotechnology, medical device development, pharmaceutical research, and traditional biotechnology.
THBI advocated heavily for the legislation that provided $3 billion - $300 million per year for 10 years to fund groundbreaking cancer research and prevention programs and services through CPRIT.
THBI's expertise in economic development resulted in legislation in which the Texas Enterprise Fund awarded $98.1 million for biotechnology related projects, creating 11,451 jobs.
In 2015, THBI was instrumental in the legislation that Governor Greg Abbott passed which created a new Governor's University Research Initiative (GURI). The program allocated $40 million to attract and recruit top researchers to Texas' higher education institutions.
Due to THBI's advocacy efforts, the Texas Emerging Technology Fund awarded more than $232.46 million for biotechnology related projects.