State-level location determinants for biotechnology firms

The biotechnology industry is one of the fastest growing industries in the U.S. Because of this, many states try to implement strategies to support development of the biotechnology industry since they see it as a source of employment and income. Therefore, factors which influence location of biotechnology firms are extremely important.;This study tries to accomplish three different goals. First, it will try to identify factors that have impacts on the location of biotechnology firms in states. Second, it will check for dependency between biotechnology sectors, since the biotechnology industry consists of five different sectors and finally, it will check for presence of multicollinearity and endogeneity in the data.