The Greenville Area Development Corporation highlighted the rapid growth in South Carolina’s life sciences sector during a breakfast program April 26 at the Westin Poinsett.
The event featured an overview of recent growth in the sector by Erin Ford, executive vice president and chief operating officer for SCBio, a statewide nonprofit life sciences association and economic development organization.
Among Ford’s remarks was a discussion of the rapid growth and economic impact of life sciences in the Palmetto State. She said the sector is now the fastest growing segment of the state’s economy with more than 670 firms employing more than 43,000 people and generating $11.4 billion in annual economic impact.
GADC president and CEO Mark Farris led the following panelists in a discussion of the industry, overall:
- Matt Gevaert, CEO and co-founder of KIYATEC, whose innovative use of 3D modeling technology is focused on improving outcomes in cancer treatments.
- Bruce Johnson, CEO of Stomagienics, an ostomy care products company launched in Greenville in 2018.
- David Stefanich, CEO and co-founder of Rymedi, whose cloud-based disease testing and treatment workflow management system is being used globally.
- Austin Shirley, vice president for commercial operations for Diversified Medical Healthcare, a healthcare solutions group of companies that in February announced a $51 million expansion to its operations in Greenville County.
All four leaders said the collaborative, business-friendly environment in Greenville and across the state more broadly were important factors in why they located here and are enjoying continued success.
“We’re competing to win, and the decision to come down here was the shortest path to winning,” Geveart said.
Stefanich said that beyond earnings, the measure of success for life sciences companies comes down to the number of lives positively impacted.
Shirley said that in this respect and others, the work of life sciences companies has direct and indirect impacts on every other industry in the state and across the country.
The panelists said like in every other industry recruiting and retaining a skilled workforce will be a challenge. Geveart said KIYATEC is approaching talent development and recruitment with the same type of innovation used to grow the business.
In closing remarks, SCBio’s Ford said the growth in the life sciences sector has matured to the point that her group and industry leaders can now “hone-in” on areas of need like growing the talent pool in the state.
