From world-renowned research hospitals to promising life science startups, Tennessee is home to one of the fastest-growing health-care and biotechnology sectors in the nation.

Memphis has long been synonymous with cutting-edge medical research. Methodist Le Bonheur Healthcare and St. Jude Children's Research Hospital are just a few of the recognizable names bridging the public and private life science sectors in West Tennessee.

"The partnership of Memphis hospitals with area universities and researchers creates a tremendous baseline for biosciences," says Regina Whitley, vice president of marketing and communications at the Memphis Bioworks Foundation, a nonprofit foundation organized in 2001 to help transform Memphis into an international center of excellence for bioscience.

Advantages in Bioscience

Memphis already is 24 percent above the national average for bioscience jobs, thanks to opportunities in biomedicine, biologistics and biobased products. Four of the world's top pharmaceutical companies have operations in Memphis, including GlaxoSmithKline, Johnson & Johnson, Pfizer and Merck (Schering-Plough), along with 300-plus bioscience companies, support service firms and medical device manufacturers. 

Memphis also is the international corporate headquarters and world hub for FedEx, giving local companies the latest cutoff times for next-day delivery in the United States. And with the richest soil along the Mississippi Delta, Memphis is quickly becoming a haven for companies looking to develop greener technologies.

One of Memphis' newest assets is the University of Tennessee-Baptist Research Park, a growing major bioscience research facility located on 13 acres in the Memphis Medical Center. Once completed, the research park will include 1.2 million square feet of world-class laboratory, research, education and commercial space.

Nashville's Health-Care Hub

Health care is the largest and fastest-growing employment sector in the Nashville area, boasting more than 250 health-care companies and 300-plus professional services firms. The region's health-care industry contributes an annual economic benefit of nearly $30 billion and more than 200,000 jobs to the local economy annually. Globally, 56 health-care companies headquartered in Nashville generate $70 billion in revenue and more than 400,000 jobs. Vanderbilt University Medical Center calls Nashville home, as do hospital operators Community Health Systems and Hospital Corporation of America, which pioneered the for-profit hospital concept and now operates 164 hospitals in 20 U.S. states and Great Britain.

Nashville Medical Trade Center

With its high concentration of health-care companies, it's no surprise that Nashville is slated to welcome the world's first medical trade center in 2013. Currently under development by Dallas-based Market Center Management Co., the Nashville Medical Trade Center will be an international marketplace promoting the exchange of goods, services and ideas for the health-care industry. Located in downtown Nashville, the 1.5-million-square-foot global marketplace will serve health-care vendors, providers, educational institutions, trade events and more while generating an estimated annual economic impact of $140 million.

A Healthy Future

Nashville also is poised to become a health information technology center, as new federal regulations concerning electronic medical records and state insurance exchanges are implemented. Caroline Young, president of the Nashville Health Care Council, says the organization is partnering with the Nashville Technology Council and the Nashville Area Chamber of Commerce to develop technology workforce initiatives to meet the industry's growing demand.

"With that concentration comes a tremendous amount of talent," says Young. "Nashville often is seen as a center of innovation and thought leadership due to the amount of experienced health-care executives located here."