SOUTH SAN FRANCISCO & LOS ANGELES & SAN DIEGO--(BUSINESS WIRE)--California’s life science industry provides over 1.4 million jobs in the region, with economic activity generating a total of $372 billion in 2019 alone. Biocom’s 2020 Economic Impact Report Databook outlines and highlights these key findings of the state’s life science industry, including information on economic, demographic and industry performance data.
“The 2020 Economic Impact Report is a vital barometer of the health and impact of the life sciences industry in California,” said Joe Panetta, president and CEO of Biocom, the association representing the California life science industry. “There is no more important time for our industry than right now, during an unprecedented global pandemic. This report demonstrates that the work the industry does every day has a significant economic impact on California, providing high-paying jobs across the state that contribute to the economic health of our communities. During the COVID-19 crisis, we will continue to keep our finger on the pulse of the life sciences, and future reports will reveal important data on how the pandemic affected our industry, its millions of related jobs and its economic impact across the state.”
Over the past five years, California’s life science industry has seen a 13 percent increase in the number of jobs statewide. California also received the most research funding from National Institutes of Health (NIH) of any state in the country, a total of $4.59 billion in the 2019 fiscal year.
Among the nine counties that surround the San Francisco Bay, the region employed more than 145,000 individuals and supported more than 387,000 jobs, generating a total of $139 billion. The sectors that showed the strongest gains and that are expected to lead future growth are biopharmaceutical manufacturing, medical devices and diagnostic equipment, as well as research and lab services.
San Diego County’s life science industry employed more than 68,000 people in 2019, generating nearly 175,000 total job opportunities (including direct, indirect and induced jobs) and contributing $41.3 billion to the local economy. The region saw solid job growth in the areas of biopharmaceuticals manufacturing, medical devices and diagnostic equipment, and research and lab services from 2014 to 2019, boasting 4.8 times the national average concentration of biochemists and biophysicists.
Los Angeles County received more than $1.15 billion in NIH funding in fiscal year 2019, the largest amount of any other county in California. In employing more than 93,000 individuals in 2019 across 2,890 establishments, all sectors of the life science industry in the region generated $44.2 billion in economic activity.
Additional fact sheets
- East Bay (Alameda County and Contra Costa County)
- The Peninsula (San Mateo County and Santa Clara County)
- City and County of San Francisco
- Southern California Fact Sheet
- City of Los Angeles Fact Sheet
- City of San Diego Fact Sheet
Biocom is the largest, most experienced leader and advocate for California’s life science sector. We work on behalf of more than 1,300 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs, and create robust value-driven purchasing programs.
Founded in 1995 in San Diego, Biocom provides the strongest public voice to research institutions and companies that fuel the local and state-wide economy. Our goal is simple: to help our members produce novel solutions that improve the human condition. Biocom operates core offices in San Diego, Los Angeles and the San Francisco Bay Area, satellite offices in Washington, D.C. and Tokyo, and has a continuous staff presence in Sacramento. Our broad membership benefits apply to biotechnology, pharmaceutical, medical device, genomics and diagnostics companies of all sizes, as well as to research universities and institutes, clinical research organizations, investors and service providers.
For more information on Biocom, please visit our website at www.biocom.org. Connect with us on LinkedIn, Facebook, and Twitter (@BIOCOMCA).