A Different Kind of Drug Story

We’ve all heard claims that drug legalization will give state governments something to tax, reduce crime and lower drug-related violence. The experiments are in progress already across the nation with medical marijuana and the results aren’t in yet. But there’s another drug industry that is helping Kansas right now – with tax dollars and employment.
Reported last month was some encouraging statistics about pharmaceutical companies located in and around Kansas City. Five major companies have facilities in the area and employ more than 9,000 residents. The truly stunning figure is that the industry generates more than a billion a year in revenue.

According to the Kansas City Business Journal the manufacturing side is just the tip of the iceburg. Also contributing to the economy are companies involved in direct research, testing (both laboratory and clinical), marketing and regulatory consulting. In short, along with our “bad” drug problems, we’ve got one really “good” one – how to offer employees with enough education and experience to handle the jobs.

The promise down the road is increasing biotech and pharmaceutical related jobs in a kind of Silicon Valley parallel. Biotech is a growth industry, and drug connected industries have weathered the economic storms quite well. Even in a recession environment, medications continue to sell.

As other states court drug companies with tempting tax breaks and other perks, it will be up to Kansas and Missouri to do what it takes to keep the golden goose happy and in our barn. Certainly the business community is aware of the current situation and very protective of it. Whether or not government officials are keeping an eye on it wasn’t reported. In these budget-tightening times, any income generating industry ought to be valued highly.