Bioscience nonprofit spurs $658M economic impact on Arizona, report says

Posted at 8:54 AM, Dec 01, 2021
and last updated 2021-12-01 10:54:16-05

PHOENIX — A nonprofit genomics research institute created an economic impact of $657.7 million in 2020, more than triple the $199.2 million in 2017, according to a new Tripp Umbach report.

The Translational Genomics Research Institute, which was founded in 2002, currently employs 350 people.

That employment number fluctuates as the Phoenix nonprofit continues to spin out companies, said Tess Burleson, TGen's COO and president of TGen Accelerators, which is responsible for commercializing TGen's technologies.

In April, TGen sold its Ashion Analytics LLC to Madison, Wisconsin-based Exact Sciences Corp. (Nasdaq: EXAS) for an undisclosed amount, sending 100 employees over to Exact Sciences.

Burleson said she has another four startups in the incubation phase, with one that potentially could spin out within the next 12 months.

Since its inception, TGen has spun out more than a dozen startups.

Read more of this story from the Phoenix Business Journal.