The NAICS (2014) code 541711 or “Research and Development in Biotechnology” industry comprises establishments primarily engaged in conducting biotechnology research and experimental development.
Biotechnology research and experimental development involve the study of the use of microorganisms and cellular and biomolecular processes to develop or alter living or non-living materials.
This research and development in biotechnology may result in the development of new biotechnology processes or in prototypes of new or genetically altered products that may be reproduced, utilized, or implemented by various industries.
Gross Regional Product in the Five Coastal Counties of Mississippi and Alabama
The gross regional product (GRP), also called regional gross domestic product (GDP), is the market value of all goods and services produced within a given area over a specific period of time and is a good measure of the size, income, and productivity of a regional economy (EMSI, 2021).
The GRP of the five coastal counties is shown in the chart below.
Direct Employment Impacts in the Five Coastal Counties of Mississippi and Alabama
The number of workers and owners of these establishments is shown in the chart below.