This morning's coverage of the BIO International Convention kicked off with a deep dive into the 2014 Battelle State Bioscience Jobs, Investment, and Innovation report. In this 6th biennial report, Battelle and BIO have teamed up to look at the impact of bioscience across all 50 states. The numbers tell an impressive story about an industry that’s shown resilience through tough economic times:
- In 2012, U.S. bioscience companies employed 1.62 million people across more than 73,000 individual businesses. For each of these jobs, the bioscience industry indirectly supports an additional 3.9 jobs.
- Over the past 10 years, the industry has added nearly 111,000 new, high-paying jobs. That’s a 7.4% increase to its employment base.
- The bioscience industry continues to create high-wage, family-sustaining jobs. In fact, wages are 80% higher
than the overall average for the private sector.
However, this stability is far from accidental. Throughout the country, leadership from policymakers has helped to sustain these vital U.S. jobs. To share how policymakers at the state-level prioritize and incentivize innovation, BIO welcomed Governor Terry McAuliffe of Virginia, Governor Dennis Daugaard of South Dakota, and Governor Deval Patrick of Massachusetts.
It will take leadership from policymakers like McAuliffe, Daugaard, and Patrick to cultivate an ecosystem that allows innovation—and the economic and societal benefits that come with it—to flourish.