The Biotech industry in RI, off to a great start, but now failing badly. These firms have never been profitable and now hundreds of RIslanders will lose their jobs...layoffs, the first for Amgen's Rhode Island complex, are inevitable.
That would deal a blow to the state’s nascent efforts to develop a biotechnology industry modeled on the success in Massachusetts.
Rhode Island officials have long highlighted Amgen’s growth here — including $1.5 billion in private investments — as heralding the birth of a biomanufacturing sector that would generate jobs and lift the state’s median income. At its peak, Amgen employed 1,700 in Rhode Island.
Now what is Carcieri going to do to stop the hemorrhaging our economic base?