KBA: Investments helped create jobs, funding

The Kansas Bioscience Authority on Wednesday announced that its $87.5 million in investments since 2004 has led to $816.5 million in jobs created, external research funding, capital expenses and equity investments.

“We don’t take full credit for any of these outcomes,” said Sherlyn Manson, the KBA’s director of marketing and communications, as the KBA investments are often matched and supplemented by other donations.

Still, KBA leaders touted the results as a demonstration that its grants and investments were helping to build the bioscience sector in the state.

Some figures released Wednesday include:

• Since 2004, the authority said, 1,347 new full-time bioscience jobs have been created by 41 Kansas companies and universities, related to KBA investments, with an average annual wage of $68,716.

• In the 2011 fiscal year that ended June 30, investments that the KBA made helped attract $18.2 million in new external research funding, and since 2004 the authority reported $104.9 million in external research funding sparked by KBA investments, including $44.6 million in research funding for the Kansas University Cancer Center.

• The authority reported $65.9 million in capital investments, including new facilities, equipment and land, related to KBA investments in the 2011 fiscal year and $278.5 million since 2004.

• In fiscal year 2011, the authority reported it had helped Kansas companies attract $30.6 million in new equity investments made by venture capital firms, angel investors and other private investors and helped attract $78.9 million since its founding in 2004.

The authority is still awaiting the final outcomes of a forensic audit of its finances by the firm BKD ordered by Kansas Gov. Sam Brownback.

By Andy Hyland

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