Thursday, July 10, 2008
US Biotech Jobs Up 17.8%
The study, "Technology, Talent and Capital: State Bioscience Initiatives 2008," presents data on national, state and metropolitan bioscience employment and growth trends during 2001 to 2006. The study also examines a series of additional key performance metrics and describes state policies and programs designed to accelerate the growth of the biosciences. The report has been produced from the most current and comparable annual data available.
Total U.S. employment in the biosciences reached 1.3 million in 2006, up from 1.2 million in 2004, led by strong growth in the research, testing and medical lab subsector, which experienced a 17.8 percent increase in employment and a 32.7 percent increase in establishments between 2001 and 2006. Indirect and induced employment from the bioscience industry totals an additional 6.2 million jobs spread throughout the remainder of the economy. Together, these direct, indirect and induced jobs account for a total employment impact of 7.5 million jobs.
"The bioscience sector is truly coming of age with new discoveries finding their way into new applications and products leading to new medical treatments, new sources of energy, and new industrial products made out of bio-based materials," said Jim Greenwood, President and CEO of BIO. "This has led to the growth of clusters of bioscience firms focused on specialized niches throughout the 50 states and Puerto Rico."
Following are some of the key findings in the report:
- The bioscience sector is a source of high-wage jobs. The average bioscience job paid $71,000 in 2006, $29,000 more than the average private sector job.
- Each bioscience job generates an additional 5.8 jobs in the national economy.
- Thirty-five states, the District of Columbia and Puerto Rico have an employment specialization (20 percent or more concentrated than the nation) in at least one of the four bioscience subsectors (drugs and pharmaceuticals, medical devices and equipment, research, testing and medical laboratories, and agricultural feedstock and chemicals).
- Twelve states – California, Illinois, Indiana, Iowa, Massachusetts, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee and Texas – have both a large (more than 5 percent of total U.S. employment) and specialized bioscience base in at least one of the bioscience subsectors.
- Of the nation’s 361 Metropolitan Statistical Areas, 202 have an employment specialization in at least one of the four bioscience subsectors, up from 193 in 2004.
- Academic bioscience R&D expenditures total $29 billion in FY 2006.
- U.S. higher education institutions awarded more than 143,000 bioscience-related degrees in the 2006 academic year.
- Venture capital investments in bioscience companies reached $11.6 billion in 2007.
- More than 82,000 bioscience-related patents were issued to U.S. inventors between 2002 and 2007.
Click here to access the presentation.
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