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The Biopharmaceutical Sector’s Impact on the Economy of Texas
This fact sheet presents an analysis of the impact of the biopharmaceutical sector on the economy of Texas (TX) 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 Texas:
PhRMA commissioned Battelle to conduct this study to examine the extent to which state governments are targeting the industry for economic growth and development:
• The Life Sciences is one of six industry clusters targeted by the state for development since 2004
• Texas’ biopharmaceutical industry employed 166,000 workers and contributed $35.7 billion to the state economy in 2006,including its direct, indirect and induced impacts
• The Texas Emerging Technology Fund invests approximately $200 million per biennium to build R&D capacity, invest in commercialization, and support university‐industry collaborations, almost half of these investments have been in the life sciences
• The Cancer Prevention and Research Institute of Texas is a $3 billion, 10‐year initiative that will support cancer research and attract senior and junior scientists to the state
• Texas’ biopharmaceutical industry employed 166,000 workers and contributed $35.7 billion to the state economy in 2006,including its direct, indirect and induced impacts
• The Texas Emerging Technology Fund invests approximately $200 million per biennium to build R&D capacity, invest in commercialization, and support university‐industry collaborations, almost half of these investments have been in the life sciences
• The Cancer Prevention and Research Institute of Texas is a $3 billion, 10‐year initiative that will support cancer research and attract senior and junior scientists to the state
*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.
