New data on Oregon’s biotechnology and life science sector shows continuous growth and gains in economic output and activity that is spurring thousands of jobs for state residents, while adding over $1 billion in direct wages to the economy in 2017. The study, entitled “Economic Impact Study 2019: Profiling the Growth of Oregon’s Bioscience Industry in 2017,” details how the industry contributes to the state through billions in output and millions in tax and fee revenues to support state and federal government.
Oregon’s biotech and health research sectors are thriving as companies all over the state from start-up to established business are scaling up, as well as showing increased diversity with more women and minorities being hired. About 46 percent of the total well-paid, skilled jobs in the bioscience and related industry sector are held by women and 22 percent are held by minorities.
The bio ecosystem consists of 820 organizations and corporations, multiple universities and life science research labs, and money awarded from the National Institute of Health and the federal government. Each component contributes to the growing economic activity, with over $1 billion paid in wages to workers and millions in benefits and payroll taxes.
“The bio sector here is thriving and continues to outshine the state averages with higher wages, more jobs, a growing number of bio companies/firms and more funding from federal sources for research than previous studies. It will be important to protect and preserve this growth, so our expanding industry can continue to support Oregon’s diverse economy,” stated Liisa Bozinovic, Executive Director of the Oregon Bioscience Association.