Industry Economic Impact

Biopharmaceutical Industry Impact on State Economies

PhRMA

The biopharmaceutical sector in the United States spurs economic activity and generates jobs across a whole range of sectors, from vendors and suppliers to the economic activity of its workforce. These benefits are felt far beyond individual biopharmaceutical companies and are built upon a robust foundation of innovation-led U.S. companies that sustain a diverse and large-scale supply chain for the development, production and distribution of treatments and cures to patients.

Research prepared for PhRMA by TEConomy Partners, LLC, analyzed state and national data across the large-scale biopharmaceutical sector supply chain and highlights how the discovery, development and delivery of innovative medicines translate into higher-wage jobs, increased tax revenue and greater economic output in our local communities.

At a time when the economic competitiveness of our nation is recognized to be strongly rooted in our capacity to advance innovation-based industries, the U.S. biopharmaceutical industry stands out as a leading advanced manufacturing industry. Check out the U.S. fact sheet and fact sheets for all 50 states plus the District of Columbia to learn more about the number and types of jobs the sector supports, worker wages and economic output supported by the industry.

A U.S. fact sheet and fact sheets for all 50 states plus the District of Columbia are available below, as is the full report with detailed findings and methodology.