COLUMBUS, Ohio--(BUSINESS WIRE)--BioOhio, the state’s bioscience membership organization, has today released the 2015 Ohio Bioscience Growth Report, presenting facts and background to illustrate the strengths and assets of Ohio’s bioscience industry. The comprehensive scope of this report makes it an essential tool for Ohio’s bioscience business leaders, educators, and economic development professionals, and serves as a benchmark for local, state, and federal lawmakers. This report is also a valuable resource for anyone interested in learning more about bioscience.
The Ohio Bioscience Growth Report focuses on bioscience business and research occurring in Ohio and its six regions, including pharmaceuticals & therapeutics, medical device & equipment manufacturers, research & development facilities, medical laboratories, diagnostic imaging centers, digital health products & services, agricultural products, bio-based materials & fuels, and their respective infrastructures.
Tracking of investment, average wages, research funding, expansions, new company growth, and other important metrics serves as a gauge of the industry. While these figures illustrate the mechanisms behind the companies and organizations, the work being done by Ohio’s bioscience community is so much more important than any of these metrics can convey.
Ohioans are curing debilitating pediatric diseases, creating less invasive surgical tools, formulating cleaner and more efficient biofuels, programming highly accurate diagnostic imaging techniques, improving provider processes to reduce patient costs, and personalizing medication delivery for individual patients.
These are just a few examples of what Ohio’s bioscience companies are doing each day across the state. BioOhio is proud to support and salute their efforts. Below are select statistics from the Report. For the full publication, visit www.BioOhio.com/Ohio.
Today in Ohio, at least 2,391 bioscience-related organizations are manufacturing products, providing essential services, or researching the next breakthrough at 3,115 facilities around the state. This is an increase of 384 locations (14%) in the last five years.
Ranging from the large and well known such as Abbott Nutrition, Battelle, Cardinal Health, J&J, Midmark, Philips, and STERIS, to young and growing companies including Assurex Health, Cleveland HeartLab, and Minimally Invasive Devices, Ohio bioscience firms employ over 68,500 workers.
Ohio’s bioscience industry generated $4.83 billion of payroll in 2014, a 15% ($631 million) increase in the last five years. Bioscience sector jobs in Ohio paid an average wage of $70,481, encompassing a wide variety of occupations, not exclusively scientists and executives.
The bioscience industry’s economic impact is felt throughout the state, with bioscience-related companies found in 81 of 88 Ohio counties. Anchored by Cleveland and Akron, northeast Ohio led the state in the number of bioscience locations with 1,234 locations, 40% of the statewide total. The central and southwest regions followed with 624 (20%) and 580 (19%), respectively. Western Ohio is home to 313 locations, 228 in northwest Ohio, and 136 in the southeast region. In terms of employees, northeast and central Ohio are closely aligned at 32% and 29% of the statewide total.
Bioscience companies continue to expand operations and announce new facilities in the state. 360 Pharma Group, Abbott Nutrition, Alkermes, Assurex Health, AtriCure, Cardinal Health, CoverMyMeds, Enable Injections, Midmark, Quality Electrodynamics, Siemens Healthcare, and STERIS are all among the many companies that continue to expand in Ohio.
Since 2013, 155 new bioscience-related firms began operations in Ohio. These include start-up companies like Abeona Therapeutics (which recently went public on the NASDAQ), Genetesis, Cleveland Diagnostics, Eccrine Systems, MedaCheck, and Vesco Medical. Also, many existing firms such as Aprecia Pharmaceuticals, Chromocare, Beam Technologies, Aver Informatics, and Quest Medical Imaging chose to locate and grow their companies in Ohio.
Ohio organizations received $701.6 million from the National Institutes of Health (NIH) in 2015, well ahead of the U.S. average of $470.7 million. Five institutions—Case Western Reserve University, The Ohio State University, Cincinnati Children’s Hospital Medical Center, Cleveland Clinic, and University of Cincinnati—were once again among the nation’s top 100 NIH funding recipients.
Ohio companies attracted over $3.1 billion in funding in 2014, from sources including venture capital, exits, angel investors, federal grants, and state initiatives such as the Ohio Third Frontier. Significant acquisition activity propelled 2015 to record breaking levels, with over $19 billion recorded.
In 2014 Ohio bioscience and healthcare-related companies received private investment that topped $576 million, the highest level in BioOhio’s last decade of deal tracking. Current tracking of 2015 investment indicates that at least 78 companies have received combined private funding in excess of $410 million and $17.9 billion in acquisitions.
In 2014, Ohioans were issued 3,755 total patents, 895 (24%) of which were bioscience related. Ohio ranks 10th nationally in bioscience-related patents, keeping well ahead of the U.S. average of 458.
Bioscience education continues to thrive in Ohio. In 2013, 9,671 bioscience-related degrees and certificates were awarded to students in Ohio, up a full 50% since 2006. The number of schools with bio programs has also increased, from 85 in 2006 to 108 public and private schools directly impacting the industry in Ohio in 2013.
The full report is available for download at www.BioOhio.com/Ohio.
Contact BioOhio President & CEO, John F. Lewis, Jr. at email@example.com or (614) 675-3686, with any questions and comments regarding the Report.
About BioOhio: BioOhio is a non-profit membership organization, founded in 1987, focused on accelerating bioscience discovery, innovation, education, research and commercialization, driving economic growth, and improved quality of life in Ohio. BioOhio represents nearly 400 members that employ over 100,000 Ohioans - from Ohio’s largest employers to emerging start-ups, schools & universities, research institutions, students, and individuals.
BioOhio hosts many events throughout the year that feature knowledgeable and influential industry speakers as well as exceptional networking and partnership building opportunities. The organization helps members identify partners, attract investment dollars, save money through affinity purchasing programs, build professional networks, promote news and services, tap into talent sources, support educational programs, and advocate in front of federal, state, and local officials.
BioOhio is the Ohio affiliate for global bioscience associations Advanced Medical Technology Association (AdvaMed), Biotechnology Innovation Organization (BIO), Medical Device and Manufacturing Association (MDMA), and Pharmaceutical Research and Manufacturers of America (PhRMA). Learn more at BioOhio.com.