Bayer AG has reached a deal to pay $750 million to settle a rice contamination lawsuit, according to the Wall Street Journal.
The rice was originally developed by Aventis Aventis Latest from The Business Journals Ohio a hotbed of biotech job growthSlideshow: Metro Atlanta Chamber honors entrepreneursK-9 Coach Cobb’s small biz of the year Follow this company , which Bayer has since bought parts of, including the crop science unit that produced the rice strains.
The group of farmers were in Arkansas, Louisiana, Mississippi, Missouri and Texas, and includes 11,000 people who will share in the settlement, according to the report.
Bayer has a facility in Newark, Ohio, that had 140 employees as of 2008. The company is part of a thriving biotech industry in Ohio that has created 43,000 jobs, directly and indirectly, as of 2009 throughout the Southwest Ohio region. BioOhio, the state’s nonprofit trade and advocacy group for the biological sciences, recently released findings about the industry’s growth.
In 2009, seven southwest Ohio counties had about 14,800 bioscience jobs, or 23.7 percent of the total, with about a $1.1 billion payroll. It also had nearly 300 locations of bioscience companies, for 16 percent of the state total.
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