HudsonAlpha biotech campus worth $1.85B to Alabama economy

Huntsville’s HudsonAlpha Institute for Biotechnology has meant more than $1.85 billion to Alabama’s economy in the past decade, according to an economic study released today. In the past two years alone, the study says, the economic impact has topped $500 million.

HudsonAlpha is a life sciences campus housing genetic researchers, educators and associated companies. It employs more than 750 people and indirectly supports another 600 jobs. It direct and indirect payroll impact has been estimated at $634 million.

This graphic shows the economic impact of the HudsonAlpha Institute for Biotechnology in Huntsville. (HudsonAlpha graphic)
This graphic shows the economic impact of the HudsonAlpha Institute for Biotechnology in Huntsville. (HudsonAlpha graphic) (Lee Roop | lroop@al.com)

The study was prepared by the Center for Management & Economic Research at the University of Alabama in Huntsville and includes data from 2006-2016. It researched the impact of the nonprofit HudsonAlpha institute and its more than 30 resident associate companies. Employment at the institute and its associate companies increased 19 percent last year.

“We know that HudsonAlpha adds extraordinary economic value to the state of Alabama, and we’re excited to see these numbers continue to increase,” said Rick Myers, PhD, HudsonAlpha’s president and science director. “These figures reflect what we see every day on our campus – excitement about the life sciences sector in our regional economy and consistent growth of Alabama as a leader in the biosciences industry.”

“HudsonAlpha and the associate companies have over 750 people on campus today. We are a key driver in this important North Alabama economic sector, but there are over 2,000 additional people working in the life sciences in Madison County alone,” said Carter Wells, HudsonAlpha vice president for economic development. “The findings from this study have re-energized all of us to keep focused on entrepreneurship, recruitment and business expansion as we continue to build a vibrant life sciences hub.”

“A little over a decade ago, Lonnie McMillian and I envisioned a life sciences campus that would become a biotech hub for the Southeast,” said Jim Hudson, co-founder of HudsonAlpha. “This new study shows that our model is not only successful, but it is exceeding our expectations.”