East L.A. biotech park could create ‘explosion of employment’

The competition for biotech investment is escalating, and USC President C. L. Max Nikias wants to make sure Los Angeles emerges a winner.

“Los Angeles finds itself falling behind in the race for the future of this increasingly important industry,” Nikias told attendees of USC’s Business of Biotech event, which recently brought together community, business and university leaders.

The USC leader envisions a biotechnology park in east Los Angeles on the Health Sciences Campus. The development could provide thousands of construction and biotech jobs.

“We will see an explosion of employment in many areas, and we will watch this community emerge as an attractive area for large companies and small business startups, all searching for new employees to help them grow and expand,” he said.

Nikias emphasized the Los Angeles basin’s biotech assets, including USC hospitals, research institutions and more than 5,000 university graduates in biotechnology-related fields each year.

“Now we see an unparalleled opportunity to keep this intellectual capital right here in our region,” he said.

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