Life Science Report Released by Hamilton Chamber of Commerce Makes Key Recommendations for Capitalizing on Hamilton’s Strengths

· by Marily Butkovic

February 3, 2014 – Hamilton, ON – Today the Hamilton Chamber of Commerce released a report titled “Building a Life Sciences Cluster: A Case for Hamilton,” outlining how the city’s future prosperity depends on its ability to extract greater commercial development from its current strengths.

The report documents Hamilton’s broad strengths and assets in life sciences, and looks at other regions around the world that have become economic powerhouses by successfully creating industry clusters.

Chamber President and CEO, Keanin Loomis states that Hamilton already has all the necessary components for creating a strong life science cluster.

“Hamilton’s health service and research sector is now the city’s largest employer,” said Loomis. “The magnitude of health and life science research being conducted here has doubled in recent years, and is receiving global recognition and awards. We have built incredible health infrastructure that is attracting specialized knowledge and human capacity that is the envy of cities worldwide.”

By looking at the elements of successful clusters, the report highlights current challenges and barriers that Hamilton will need to overcome to maximize sustained economic development.

“While hard work remains, the areas that need our attention and further development are not at all insurmountable, cost-prohibitive, nor duplicative of past or current efforts,” added Loomis. “Therefore, we believe that success in creating a vibrant life sciences cluster in Hamilton is achievable, if key leaders remain committed to act.”

The report is a culmination of over a year of work spearheaded by the Hamilton Chamber of Commerce and with considerable effort and input from key industry stakeholders. All are committed to championing this initiative and are committed in 2014 to advance the report’s recommendations.

Read the Life Science Cluster Report 2014.

Media contact: Huzaifa Saeed, Policy & Research Analyst h.saeed@hamiltonchamber.ca | 905-522-1151 ext. 230, C: 905-220-3030