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Biotech jobs germinate as San Francisco diversifies economy

Biotech jobs germinate as San Francisco diversifies economy

Pfizer, Inc.- the New York based world's largest drugmaker will be the next biotechnology company opened in the Mission Bay/San Francisco next year. All biotechnology companies in the city account already for 47. With current 780 biotech jobs in San Francisco and 600 in the Mission Bay, a five-story biotechnology headquarters will create additional 120 in the area. According to the Office of Economic and Workforce Development in San Francisco, each position helps to create of extra 1.3 jobs including waiters, janitors, accountants, and many more. San Francisco makes itself place the most winning to biotech companies after waiving the 1.25 percent payroll tax until 2015.   

Bloomberg News- 5/15/2009