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Life-sciences leaders tout rapid growth, radioisotope firm as anchor for Utah biotech
Summary
BioUtah told the committee the state's life-sciences sector is expanding faster than most U.S. peers, highlighted NUSANO's upcoming radioisotope production as a potential magnet for manufacturers, and asked GOEO for continued national branding, recruitment and workforce incentives.
Kelvin Colmore, chief executive of BioUtah, told the Economic Development and Workforce Services Interim Committee on Aug. 20 that Utah's life-sciences sector has grown faster than most U.S. peers over the last decade, adding higher-than-average wages and durable jobs. "Our wages are on average 47% higher than average in the state," Colmore said.
Why it matters: Colmore said the sector now employs visible clusters of device, diagnostic and biotech firms; he singled out an upcoming plant, NUSANO, as a potential catalyst that will make Utah a radioisotope production center and attract downstream manufacturers.
Colmore summarized a 2023 industry report that identified roughly 1,600 life-science firms in Utah and said the industry supports roughly 182,000 jobs directly and indirectly and about $22 billion in GDP. He noted the sector's growth is concentrated: 64% of life-science companies have 1–4 employees while a small share of large firms account for the majority of jobs.
On concrete projects, Colmore described NUSANO's planned radioisotope production, saying the facility produces short-lived medical isotopes that will attract pharmaceutical sites nearby and enable new cancer therapies. He also reported recent relocations and expansions — for example, OS Group relocated from California and hired about 750 people in two years — and said some companies lost employees after changes in federal immigration policy affected visa/temporary-protected status holders.
Requests to GOEO included continued national trade-show branding and recruitment support, refinement of tax incentives so early-stage firms can qualify, and strengthened collaboration on workforce training and Life Sciences Day events. Colmore said GOEO has been "a great partner" and requested more of the same support.
Ending: Colmore asked the committee to sustain policies that make Utah attractive for life-sciences R&D, manufacturing and commercialization and to consider targeted changes to incentives and workforce programs to help early-stage firms scale.
