There are about 100 of them, about 20 publicly traded. In its own quiet way, the Philadelphia area has become one of the top five biotech centers in the country, experts said. Other advances by area companies include a treatment for hemophilia by Aventis Behring, a recently formed King of Prussia company that specializes in blood plasma therapies, a treatment for stroke and head injuries by Neuron Therapeutics in Malvern, and a treatment for narcolepsy by Cephalon in West Chester. Philadelphia's business tax structure and the city wage tax are oft-repeated reasons, but a need to be near other biotech firms is also a popular answer. That gives you the ability to recruit people who are already near you.
Biotechnology needs a strong university base, from which theories and workers can be recruited.
Biotech companies need to be in a community, where information can be shared and problem-solving can occur easily. Many workers in these companies are young and say they still are drawn to Philadelphia for the culture, the sporting events, the bars and the social life. The draw of the city for young people is so strong that some experts think the current tendency for biotech companies choosing the suburbs can be minimized. The building is in the Keystone Opportunity Zone, where all taxes except the city wage tax are waived until 2011 for qualified companies that decide to lease space there. Another major draw is the building's location in West Philadelphia, near Drexel and the University of Pennsylvania.