Life Science Industry in California Generates $376 Billion Annually

SOUTH SAN FRANCISCO, Calif. & LOS ANGELES & SAN DIEGO, December 02, 2022–(BUSINESS WIRE)–Biocom California, the affiliation representing the California life science business, right this moment launched a brand new report displaying California’s life science business gives greater than 400,000 jobs within the state and generates $376 billion in complete financial output. Biocom California’s 2022 Financial Affect Report Databook outlines these and different key findings in regards to the state’s life science business, together with data on financial, demographic, funding and business efficiency information. The complete report evaluation and regional truth sheets can be found on the Biocom California web site.

“California continues to be the main innovation hub for the life science business and the 2022 Financial Affect Report gives key information on the impression it has on the state and regional economies,” mentioned Joe Panetta, president and CEO of Biocom California. “Over the previous couple of years, and particularly through the COVID-19 pandemic, the life science business skilled an inflow of funding curiosity and NIH funding for the sector. It’s clear the work the business does daily has a big impression on California, offering high-paying jobs straight and not directly throughout the state.”

Key info from the report embrace the next:

• The business straight supported roughly 435,693 jobs in 2021, and not directly supported an extra 736,846 staff

• California obtained a complete of $5.1 billion in analysis funding from the Nationwide Institute of Well being (NIH) in 2021

• In 2021, enterprise capital directed to California’s life science innovators totaled $16.6 billion

• Practically 1,500 patents had been granted in 2021

About Biocom California

Biocom California is the chief and advocate for California’s life science sector. We work on behalf of greater than 1,700 members to drive public coverage, construct an enviable community of business leaders, create entry to capital, introduce cutting-edge STEM education schemes and create strong value-driven buying applications.

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Based in 1995 in San Diego, Biocom California gives the strongest public voice to analysis establishments and firms that gasoline the native and state-wide economic system. Our purpose is straightforward: to assist our members produce novel options that enhance the human situation. Along with our San Diego headquarters, Biocom California operates core workplaces in Los Angeles and the San Francisco Bay Space, with satellite tv for pc workplaces in Sacramento, Washington, D.C. and Tokyo. Our broad membership advantages apply to biotechnology, pharmaceutical, medical machine, genomics and diagnostics corporations of all sizes, in addition to to analysis universities and institutes, scientific analysis organizations, traders and repair suppliers.

For extra data on Biocom California, please go to our web site at www.biocom.org. Join with us on LinkedIn, Fb, and Twitter (@BIOCOMCA).

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Contacts

Biocom Media Contact:
Carolyn Hawley
Evoke Canale
(619) 849-5382
Carolyn.hawley@evokegroup.com