WASHINGTON, Dec. 2, 2024 /PRNewswire/ — Today, the Biotechnology Innovation Organization (BIO) and the Council of State Bioscience Associations (CSBA) released new national and state-level data on the U.S. bioscience industry’s economic performance, its impacts, and its geographic footprint.
The report, “The U.S. Bioscience Economy: Driving Economic Growth and Opportunity in States and Regions,” analyzes the sector’s economic impact via employment, overall output, wages/benefits, and tax revenue.
Key takeaways from the report include:
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The industry’s economic impact, as measured by overall output, totaled more than $3.2 trillion in 2023.
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In 2023, the nation’s bioscience industry employed nearly 2.3 million Americans across almost 150,000 U.S. business establishments and in every U.S. state. The sector indirectly supports nearly 8 million additional jobs.
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The industry’s employment has increased significantly, by nearly 15 percent since 2019, maintaining its long-term growth trend and well outpacing the nation’s overall private sector job growth during this period.
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Between 2019 and 2023, 49 states, DC, and Puerto Rico experienced net job growth in the bioscience industry.
“America’s bioscience sector is vital to addressing the world’s most pressing challenges — from pandemics and national security to preventative health and environmental sustainability. Industry leaders…
