Life Science Industry in California Generates $346 Billion Annually, Providing Nearly 1.3M Jobs
SAN DIEGO--(BUSINESS WIRE)--Jun 3, 2019--
California’s life science industry provides nearly 1.3 million jobs in the region, with economic activity generating a total of $346 billion in 2018 alone. Biocom’s 2019 Economic Impact Report Databook outlines and highlights these key findings of the state’s life science industry, including information on economic, demographic and industry performance data.
“As the Economic Impact Report showcases, the life sciences in California are growing strongly and steadily, with each region making its own unique and equally impactful mark on the industry,” said Joe Panetta, president and CEO of Biocom, the association representing the California life science industry. “California is the fifth-largest economy globally, and life science is a key component of contributing to the growth, employment and success of the entire state.”
Over the past five years, California’s life science industry has seen an 8 percent increase in the number of jobs statewide. California also received the most research funding from National Institutes of Health out of any state in the country, a total of $4.2 billion in the 2018 fiscal year.
Bay Area Life Science Industry
Among the nine counties that surround the San Francisco Bay, the region employed over 134,000 individuals and supported more than 367,000 jobs, generating a total of $135.6 billion. The areas that received the most growth were biopharmaceutical manufacturing, medical devices and diagnostic equipment, as well as research and lab services.
San Diego County Life Science Industry
San Diego County’s life science industry employed over 65,000 people in 2018, generating nearly 168,000 total job opportunities, including direct, indirect and induced jobs, and contributing over $39 billion to the local economy. The region saw the largest growth in the areas of biopharmaceuticals manufacturing, medical devices and diagnostic equipment and research and lab services from 2013 to 2018, boasting three times the national average concentration of biochemists and biophysicists.
Los Angeles County Life Science Industry
Los Angeles County received nearly $1.1 billion in NIH funding in fiscal year 2018, the largest amount of any other county in California, allowing for robust 11 percent growth in the number of jobs in the research and laboratory services subsector. In employing over 90,000 individuals in 2018, all sectors of the life science industry in the region generated $42.5 billion in economic activity.
“California’s life science industry has had not only an enormous impact on human health, but it has also had a widely-felt influence on the economy throughout the entire state,” said Christophe Schilling, Ph.D., chief executive officer of Genomatica and chair of Biocom’s board of directors. “The Economic Impact Report displays the ways that each of California’s distinct clusters is at the center of scientific innovation and progress, driving both the industry and the overall prosperity of the state forward.”
Additional fact sheets
The Economic Impact Report was sponsored in part by the County of Los Angeles.
Biocom is the largest, most experienced leader and advocate for California’s life science sector. We work on behalf of more than 1,100 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs, and create robust value-driven purchasing programs.
Founded in 1995 in San Diego, Biocom provides the strongest public voice to research institutions and companies that fuel the local and state-wide economy. Our goal is simple: to help our members produce novel solutions that improve the human condition. Biocom operates core offices in San Diego, Los Angeles and the San Francisco Bay Area, satellite offices in Washington, D.C. and Tokyo, and has a continuous staff presence in Sacramento. Our broad membership benefits apply to biotechnology, pharmaceutical, medical device, genomics and diagnostics companies of all sizes, as well as to research universities and institutes, clinical research organizations, investors and service providers.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PROFESSIONAL SERVICES HUMAN RESOURCES RESEARCH OTHER SCIENCE SCIENCE
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PUB: 06/03/2019 11:00 AM/DISC: 06/03/2019 11:00 AM