Economy

Biotech + California = Economic Engine

California is home to several of the nation’s largest life sciences clusters. Our thriving industry is a leading employer, a powerful economic engine and a driving force behind developing the state’s biomedical workforce. The prosperity of our state is closely linked to the ongoing contributions of its thriving biotechnology industry, which generates nearly $294 billion in revenue each year and boosts the state’s gross product by $162.2 billion.
By The Numbers
$25.7B

Total biomedical exports from California biotechnology companies

$17B

Total estimate venture capital investment in California biomedical companies

$113.6k

Average salary California biotech employees were paid in 2017

1 Mil

Californians directly and indirectly employed by the biotechnology industry

325k

Californians directly employed by the biotechnology industry

1,274

Number of new medicines currently in California’s research and development pipeline

10.4k

Number of California biomedical facilities, the birthplace of the biotech industry