State focus towards bioscience grows the economy but requires resources and commitment.

By the numbers: The biosciences employed 1.87 million people across 101,000 U.S. businesses with a $2.6 trillion total impact on the U.S. economy in 2018, says Driving the Bioscience Economy Forward During the COVID-19 Pandemic: Best Practices in State and Regional Economic Development Initiatives.

Workers in the sector averaged more than $107,000—nearly twice the national average. And there are more of them, with the bioscience employment base growing by 7.2% since 2018, more than twice the rate for the overall private sector.

7 national trends are driving state bioscience growth in 2021:

States are building career pathways for future biosciences talent.

States and regions are implementing an overall supportive regulatory climate.

States and regions are developing agricultural, industrial, and environmental bioscience sectors in addition to their biomedical and health sectors.

Physical infrastructure and facilities remain a priority.

Universities and research centers’ technology transfer efforts are better understood by public agencies.

Proximity to academic innovation is a driving influence.

Increased focus on biomanufacturing is the future.

What they’re saying: “This new report highlights the important role of private-public collaboration in a robust bioscience economy,” said Maria Thacker Goethe, Chair of CSBA and President and CEO of Georgia Bio. “Sound public policy at the state and local level can help create new ways to attract economic opportunity, build a strong workforce, and spur innovation.”

Dr. Michelle’s Diagnosis: “Public policy at every level can have an enormous impact on growth, jobs, and innovation in the bioscience sector. And states are often the laboratories of new public policy, where cutting-edge ideas and approaches are tried and tested.” – BIO President and CEO Dr. Michelle McMurry-Heath