Over the past 31 years, LSU’s Pennington Biomedical Research Center has attracted researchers from around the world to its Baton Rouge campus with the sole purpose of helping people live longer healthier lives. These internationally renowned scientists collaborate with their colleagues in 300 academic institutions in 24 countries. Their work has generated more than 241,896 citations in scientific literature.
While these accomplishments are formidable, Pennington Biomedical is more than a center of scientific excellence in the state. The biomedical research giant is a significant economic driver. On average, each scientist generates $630,000 annually in grant income. These direct dollars are then greatly multiplied in the economy. In addition, the average lead investigator generates five direct jobs at Pennington and more indirect jobs in the community.
Cascade Effect: For every million dollars won, 21.5 new jobs are created
So, it’s no surprise Area Development Magazine, a planning resource for the life sciences industry, recognized Pennington Biomedical’s role distinguishing Baton Rouge as one of eight up-and-coming areas for the life sciences industry sector in 2017.
Pennington Biomedical’s research combines the expertise of nearly 65 faculty entrepreneur researchers and more than 20 postdoctoral fellows with 13 highly specialized service facilities and a network of 40 laboratories supported by lab technicians, nurses, dietitians and support personnel. On average, every faculty researcher generates five jobs. To support the science, Pennington Biomedical employs 450 Louisianans.
Public-private partnership dollars are leveraged to create 300% return on investment (ROI)
Since the center’s founding, Pennington Biomedical faculty/researcher entrepreneurs have leveraged the state contribution of $273 million to compete for and win more than $870 million in federal, sponsored projects and philanthropic support. Our National Institutes of Health funding rate is 55% higher than any other research center in the country.
In addition, 95 pharmaceutical companies and 25 food and beverage companies relied upon Pennington Biomedical’s knowledge and expertise for a variety of projects. Pennington Biomedical has generated more than $84 million from these contracts since 1999.
This infusion of dollars has created new jobs and an intellectual infrastructure that has the potential to expand Louisiana and LSU’s reach in bioscience, the industry that will drive the future of technology and the U.S. economy.
While Pennington’s faculty and business development team have been successful in acquiring funding, philanthropic investment in proof-of-concept projects accelerate Pennington Biomedical’s scientific and economic progress.