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The Biopharmaceutical Sector’s Impact on the Economy of North Carolina
This fact sheet presents an analysis of the impact of the biopharmaceutical sector on the economy of North Carolina (NC) in 2008, including data on employment, economic output, and research and development activity. The biopharmaceutical sector’s economic impact includes not only the direct impact of its companies, but also the ripple effects that the sector has throughout the rest of the economy. These ripple effects include both the indirect impact, the economic value of the goods or services used to support biopharmaceutical companies, and the induced impact, the value of the economic activity supported by the spending of the direct and indirect employees of the biopharmaceutical sector.
Additional Information on the Biopharmaceutical Sector’s Impact in North Carolina:
PhRMA commissioned Battelle to conduct this study to examine the extent to which state governments are targeting the industry for economic growth and development:
• North Carolina was the first state to target the biotechnology sector for development
• The State of North Carolina invested $1.2 billion to build the biotechnology sector between 1998 and 2008
• Today, North Carolina is home to a vibrant and growing biotechnology industry that employs 53,200 and contributes $45.8 billion to the state’s economy
• North Carolina has set a goal of having 125,000 North Carolinians employed in biotechnology‐related jobs by 2023
• Efforts to develop biotechnology clusters are underway in Asheville, Charlotte, Greenville, Wilmington and Winston‐Salem in addition to Research Triangle Park
• The State of North Carolina invested $1.2 billion to build the biotechnology sector between 1998 and 2008
• Today, North Carolina is home to a vibrant and growing biotechnology industry that employs 53,200 and contributes $45.8 billion to the state’s economy
• North Carolina has set a goal of having 125,000 North Carolinians employed in biotechnology‐related jobs by 2023
• Efforts to develop biotechnology clusters are underway in Asheville, Charlotte, Greenville, Wilmington and Winston‐Salem in addition to Research Triangle Park
*Battelle state fact sheets use the latest data available at the time of publication. This may predate the data from the Archstone reports, which use 2008 data.
