$10.7 billion: More biotech firms, more life research, more jobs and higher industry wages in Oregon make an increasingly larger economic impact in Oregon

Released in 2019

Oregon’s bioscience and R&D industry continues its steady and significant growth.

With its dedication to improving the quality of life for people around the world, Oregon’s growing life science industry continues to shine. From new and better therapies for cancer and heart disease to improvements in wound care, drug delivery methods and use of artificial intelligence to advance precision medicine, Oregon companies are at the forefront of innovation. Considering Oregon’s renowned academic and research institutions along with recent significant investments in the state, the trends noted in this study are only expected to accelerate.

The new economy impact study shows the total economic impacts, including the direct impacts of the bioscience industry plus additional supply-chain and consumption-driven impacts. In 2017, the total impacts in Oregon consisted of:

  • $10.7 billion in output, including $3.4 billion in income, and 47,238 jobs
  • Average annual wages totaling $1.4 billion statewide
  • NIH and federal dollar awards surpassing $363.4 million
  • $401.9 million in tax and fee revenues for state and local jurisdictions
  • $789.6 million in tax and fee revenues for the federal government.

Click here to read the reports and click below to read the press release:

thumbnail of Econ impact NR 2019_FINAL

2019-05-24T14:57:51+00:00