HudsonAlpha Institute for Biotechnology has made a $4.2 billion impact on Alabama’s economy since its inception in 2006, with nearly $1 billion coming in during the last two years.
According to a study by the Center for Management & Economic Research at the University of Alabama in Huntsville, HudsonAlpha and its resident associate companies have increased their economic impact by 31%, with $484 million and $505 million coming in during 2021 and 2022, respectively.
“HudsonAlpha is adding jobs to compete in the innovation-economy, providing our educators the highest quality tools and techniques to teach the workforce of tomorrow and making scientific discoveries in the world of genomics to help all of us live better lives,” said Gov. Kay Ivey.
According to the report, 1,590 jobs were tied directly to HudsonAlpha and its resident associate companies in 2022. With the additional 1,095 multiplier jobs (indirect and induced), the total job impact is 2,685. Job growth on the HudsonAlpha campus has increased at an annual rate of 17% since 2006, with employment in bioscience research, pharmaceuticals, medical testing, medical devices, agriculture and others.
“Every day, people on our biotech campus work to solve important problems in human health and agriculture,” said Jim Hudson, co-founder of HudsonAlpha.
Today, nearly 50 companies are on the HudsonAlpha biotech campus in Huntsville. Later this year, HudsonAlpha is expecting to open Discovery Life Sciences, part of the dual-purpose expansion of the campus into more agriculture-related research. Last year, HudsonAlpha opened the Center for Plant Science and Sustainable Agriculture’s greenhouse and learning labs, expanding the institute’s ability to study crops and educate the next generation of plant scientists and agriculture innovators.