The biopharmaceutical industry means innovation, and innovation means jobs. We've talked about it before. PhRMA, our trade association, recently said the industry was responsible for 3.1 million U.S. jobs in 2008. Some were direct jobs, some were indirect.
What's an indirect job? Many of them will be visiting Lilly's headquarters today as part of our first-ever conference for Indiana vendors.
Indirect jobs are business partners and consultants of many sorts that provide services during the course of a year. They may provide data management support, communications consulting, legal services, and dozens of other disciplines. Collectively, they provide horsepower to our innovation engine.
In Indiana alone, Lilly works with more than 1,300 vendors. And, in 2010, we spent more than $1 billion on Indiana companies that help us achieve our goals. Those jobs mean significant tax revenue for the state and spending power for these companies and their employees. But it also means we need to learn more about one another. More than 100 of our Indiana consultants are visiting Lilly today for an important first: a vendor conference in which Lilly will provide our partners with key legislative updates, strategies, and information about our pipeline. Vendors truly are partners in the biopharmaceutical business. By sharing important information about our goals, we can better ensure success moving forward.
Congress and the Administration have spent a lot of time lately talking about innovation and the linkage with jobs. The jobs visiting Lilly today -- part of a $1 billion investment - are an important part of the mix.