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The Biopharmaceutical Sector’s Impact on the Economy of Utah
This fact sheet presents an analysis of the impact of the biopharmaceutical sector on the economy of Utah (UT) 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 Utah:
PhRMA commissioned Battelle to conduct this study to examine the extent to which state governments are targeting the industry for economic growth and development:
- Utah’s biopharmaceutical industry supported 34,000 jobs and contributed $6.3 billion to the state’s economy, including direct, indirect and induced impacts
- Utah’s biopharmaceutical industry added jobs at almost twice the national growth rate from1996 to 2006
- Since 2006, Utah has invested $15 million annually in the Utah Science, Technology and Research Initiative, which is aimed at making strategic investments in the state’s university research infrastructure
*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.
