Life Sciences: California’s Economic Engine
Welcome to California, the world’s most successful life sciences economy. California companies produce some of the world’s most innovative medicines, diagnostics and technologies. By combining astute investors, innovative companies and outstanding academic institutions, the Golden State has created a medical and economic powerhouse.
The success of the California life sciences industry is due in large part to the high caliber of all stakeholders involved – from the research universities to the high venture capital funds available, responsible public policy, and number of innovators pushing to improve patient lives.
In 2015, California’s life sciences innovators – including companies, laboratories and academic research institutes – employed more than 287,200 people, the most in the nation. These jobs were dispersed throughout the state, with concentrations in the San Francisco Bay Area, San Diego, Orange County and Los Angeles. The average salary exceeded $108,000, a 9 percent increase from 2014. These numbers only begin to describe the sector’s impact on the Golden State. The life sciences indirectly generate another 597,000 jobs. These are the people who support the industry: software designers, consultants, intellectual property attorneys, communications professionals and many more. When taken as a whole, the life sciences industry generates and supports 884,200 jobs in California.
Download infographic: California’s life sciences leadership