Biosciences boost US employment, wages, and economy, new report finds

20 January 2022

Innovative policies and initiatives to enhance the bioscience economy are advancing in all 50 American states - driving economic growth and development nationwide, says a report released today by the Biotechnology Innovation Organization (BIO) and the Council of State Bioscience Associations (CSBA).

The biosciences industry is at the forefront of a host of major global challenges related to diagnosing, treating, and curing disease - especially COVID-19 and other infections with pandemic potential. As with other advanced industries, there is a growing understanding of the pivotal role that partnerships play in successfully moving bioscience research and development efforts forward, the report notes.

By the numbers: The biosciences employed 1.87 million people across 101,000 US businesses with a $2.6 trillion total impact on the US economy in 2018, says Driving the Bioscience Economy Forward During the COVID-19 Pandemic: Best Practices in State and Regional Economic Development Initiatives.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK