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The US Bioscience Industry: Fostering Innovation and Driving America’s Economy Forward

By December 12, 2022No Comments

The Biotechnology Innovation Organization (BIO) has released the tenth annual biennial report showcasing employment and economic data of the nation’s biosciences industry.

The report highlights the U.S. biosciences industry, including Washington’s flourishing scene, which has grown by nearly 12 percent since 2018, outpacing national industry growth, reaching 43,546 jobs in 2021 across more than 2,600 state business establishments. Employment in the state has also grown three times the rate of overall private sector jobs in the past three years.

Washington state is deemed a top National Institutes of Health (NIH) funding recipient, with $1.4B in funding. Washington biosciences also receive 71% of the $1.2B in academic research and development that comes to the state.

Cities in the Evergreen State, such as Seattle, Tacoma and Bellevue, are some of the top metros with the largest employment levels in research, testing and medical labs in 2021.