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 generated a total of $346 billion in 2018 alone.
By The Numbers
$25.7B
Total biomedical exports from California biotechnology companies
$17B
Total estimate venture capital investment in California biomedical companies
$95k
Average salary California biotech employees were paid in 2018
1.3 Mil
Californians directly and indirectly employed by the biotechnology industry in 2018
428k
Californians directly employed by the biotechnology industry in 2018
1,274
Number of new medicines currently in California’s research and development pipeline
11.7k
Number of California biomedical facilities, the birthplace of the biotech industry in 2018