Biopharmaceutical Industry Contributions to State and U.S. Economies
There is a good reason why governments across the country and around the world are fighting hard for biopharmaceutical dollars: These companies have the potential to add thousands of jobs and millions of dollars to their economies.
This study shows the strong economic impact that the biopharmaceutical industry had on U.S. states the national U.S. economy: More than 2.7 million jobs and $172 billion in real output in 2003.
More important, the study provides a 10-year projection estimating that this impact will grow stronger in the following decade. The study shows several states - New Jersey, Massachusetts, Pennsylvania, California and Maryland among them - in position to take advantage of this economic development, while others like Nevada, Vermont, Florida and West Virginia appear to be on the cusp of developing an important biopharmaceutical economy.
The study provides a state-by-state examination of the industry's economic impact in four main areas: Industry Geographic Location and Performance, Innovation Pipeline, Multiplier and Tax Impact, 10-year Industry Projections.
View statistics. (This interactive site allows you to review data by individual states or categories.)