For Oregon-specific reports (including Oregon Bioscience Association reports), go to Bio in Oregon – Reports and Resources.
TEConomy/BIO The Value of Bioscience Innovation in Growing Jobs and Improving Quality of Life 2016
The report, The Value of Bioscience Innovation in Growing Jobs and Improving Quality of Life 2016, finds U.S. bioscience firms employ 1.66 million people, a figure that includes nearly 147,000 high-paying jobs created since 2001. The average annual wage for a U.S. bioscience worker reached $94,543 in 2014. These earnings are $43,000 greater, on average, than the overall U.S. private sector wage of $51,148. The report further shows that since 2012, the bioscience industry has grown by 2.2 percent with four of its five major subsectors contributing to this overall job gain. Two of these subsectors—research, testing, and medical labs and drugs and pharmaceuticals—have led growth during the 2-year period with both increasing employment by more than 3 percent.
The report also takes the pulse of the broader U.S. innovation ecosystem for bioscience companies and finds this ecosystem rebounding but with mixed results. The U.S. is experiencing strong gains in bioscience venture capital funding and patents, but a slowdown in bioscience-related university R&D expenditures and declining research funding from the National Institutes of Health (NIH). In addition to examining the economic value of bioscience innovation, the report takes a focused look at the value of this innovation to patients illustrated via two case studies for patients with lung cancer and Type 2 diabetes. The value of bioscience innovation is evident in quality of life improvements achieved over the last three decades, but there is more to be done.
Battelle/BIO State Bioscience Jobs, Investments and Innovation 2014
The state-by-state industry assessment finds U.S. bioscience firms directly employ 1.62 million people, a figure that includes nearly 111,000 new, high-paying jobs created since 2001.
Within the private sector, the bioscience industry has been a signature performer over this period, contributing an additional 6.24 million jobs through the indirect employment effect, yielding a total employment impact of 7.86 million jobs. Furthermore, the bioscience industry continues to create and sustain high-wage jobs, paying an average 80% more than the overall private sector average salary – and growing at a faster rate.
The U.S. bioscience industry weathered the recession much better than the overall economy and other leading knowledge-based industries. While national private sector employment fell by 3.1% from the outset of the recession in 2007 through 2012, bioscience industry employment fell a mere 0.4%. While employment has almost returned to its pre-recession level, the economic output of the bioscience industry has expanded significantly with, 17% growth since 2007, almost twice the national private sector nominal output growth.
Battelle/BIO State Bioscience Industry Development 2012
The fifth biennial report analyzed the industry’s impact on the economy, which includes a state-by-state analysis of the industry, reveals that during the 2001 to 2010 period, the U.S. bioscience industry added jobs, despite losses in both the overall U.S. total private sector industry employment and other leading knowledge-based industries. It also analyzes the current position and recent trends in national and state bioscience employment, establishments and wages.
“Given the continuing concerns about job creation in the U.S., we are pleased to report an increase of more than 96,000 jobs in the bioscience sector since 2001, even after accounting for the impacts of the recent severe recession,,” said Jim Greenwood, President and CEO of theBiotechnology Industry Organization (BIO). “The Battelle/BIO report highlights the long term expansion of our industry and the high-paying salaries of our researchers and scientists that are developing innovations and life-saving medicines.”