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Abstract
Biotechnology, rather than a distinct industry like automobiles or steel, is instead a scientific knowledge base—a rapidly evolving technology—that has economically valuable applications in diverse industries such as pharmaceuticals, medical diagnostics, agriculture, bio-environmental remediation and chemical processing. Biotech is still at an early stage and there are many competing hypotheses about its future development. This paper adapts the concept of the anchor tenant from real estate economics to explore the locational concentration and specialization of the emerging biotech industry. Established Anchor Firms who use a new technology may create knowledge externalities that benefit smaller dedicated biotech firms and increase overall innovative output in the region.