Biocom’s 2019 Economic Impact Report Highlights the Steady Growth of
the Industry Throughout the State
SAN DIEGO–(BUSINESS WIRE)–#BayArea—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.
About Biocom
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.
For more information on Biocom, please visit our website at www.biocom.org.
Connect with us on LinkedIn, Facebook,
and Twitter (@BIOCOMCA).
Contacts
Biocom Media Contact:
Carolyn Hawley
Canale
Communications
(619) 849-5382
Carolyn@Canalecomm.com