Battelle/BIO State Bioscience Jobs, Investments and Innovation 2014
While not immune to the economic crisis and resulting recession, the bioscience industry weathered difficult economic times better than most industries, and is on course to regain its previous high employment levels. Indeed, the promise of bioscience-based solutions to global grand challenges in human health, food security, sustainable industrial production and environmental protection provides an optimistic picture for the biosciences as a key economic development engine in the U.S.
In this sixth biennial report, Battelle and BIO continue the tradition of reporting national and state statistics for the bioscience industry in the U.S. Returning for this edition are bioscience metrics for leading U.S. metro areas.
The latest Battelle/BIO data indicate that:
• In 2012, U.S. bioscience companies employed 1.62 million personnel across more than 73,000 individual business establishments.
• Over the past decade the industry has added nearly 111,000 new, high-paying jobs or 7.4 percent to its employment base.
• Economic output of the bioscience industry has expanded significantly with 17 percent growth for the biosciences since 2007, nearly twice the national private sector nominal output growth.
• The industry continues its tradition of creating high-wage, family-sustaining jobs with average wages 80 percent greater than the overall private sector and growing at a faster rate.