Insulated from the cash crunch facing other tech sectors, the area's biotech industry, which is concentrated in Maryland, continues to grow steadily and scoop up new workers with the right skills and experience. Flush with money from venture investors and the stock market, most local biotech companies haven't given up ambitious expansion plans, despite the economy's recent troubles. Last year, Maryland's biotech industry employed 15,995 workers, a four percent increase from 1999, and is expected to grow by at least 5 percent this year, according to MdBio Inc., a nonprofit organization that promotes the state's biotech sector. That means plenty of options for life science workers at all levels, from the lab technicians who mix cell cultures to the senior scientists who lead research teams. Pauline Brown, a senior account manager at Rockville recruiting firm Lab Support Inc., said biotech jobs remain plentiful for applicants with backgrounds in biology and chemistry, and compensation packages have even improved in recent months.
People have a multitude of opportunities.
Most local biotech companies are still in an expansionist frame of mind. They're hiring new people, adding facilities and planning ambitious tests of potential drugs. Human Genome Sciences Inc. of Rockville is one company defying the downturn. The company, which now has about 750 workers, has hired 110 employees this year and plans to add another 250 by year's end, said Susan Bateson McKay, the company's senior vice president of human resources. The job market is still very competitive.