SOUTH SAN FRANCISCO, CA. & LOS ANGELES & SAN DIEGO–(BUSINESS WIRE)– The Biocom California Association, which represents California’s life sciences industry, released a new report today. California’s life sciences industry supports more than 400,000 jobs in the state and generates an economic output of $376 billion. Biocom California 2022 Economic Impact Report Factbook These and other key findings about the state’s life sciences industry are summarized, including economic, demographic, investment, and industry performance data. A full analysis of the report and a regional fact sheet are available on the Biocom California website.
“California continues to be a leading center of innovation in the life sciences industry, and the 2022 Economic Impact Report provides key insights into the state’s and regional economy’s impact,” said Joe Panetta, president and CEO of Biocom California. “In the last few years, especially during the COVID-19 pandemic, the life sciences industry has experienced an influx of investment interest and NIH funding. It’s clear that the work the industry does every day has a significant impact on California, directly and indirectly providing high-paying jobs throughout the state.”
Key facts of the report include:
The industry directly supported an estimated 435,693 jobs and indirectly supported 736,846 workers in 2021.
California received a total of $5.1 billion in research funding from the National Institutes of Health (NIH) in 2021.
In 2021, $16.6 billion in venture capital directed at California life science innovators.
In 2021, about 1,500 patents were granted
About Biocom California
Biocom California is a leader and advocate for California’s life sciences industry. We work to drive on behalf of our more than 1,700 members government policycreate enviable network of industry leaderscreate access to capitalwill introduce cutting-edge STEM education programs building value-based resilience purchasing programs.
Founded in San Diego in 1995, Biocom California provides the community’s strongest voice for research organizations and companies that support the local and state economy. Our mission is simple: to help our members create innovative solutions that improve the human condition. Apart from us San Diego headquartersBiocom California maintains its principal offices Angels and San Francisco Bay Areawith satellite offices Sacramento, Washington DC and Tokyo. Our broad membership benefits include all types of biotech, pharmaceutical, medical device, genomics and diagnostics companies, as well as research universities, institutes, clinical research organizations, investors and service providers.