Economy
Biotech + California = Economic Engine
California is home to several of the nation’s largest life sciences clusters. This thriving industry is a leading employer, a powerful economic engine and a driving force behind developing the state’s biomedical workforce. Our state’s prosperity is closely linked to the ongoing contributions of the growing biotechnology industry, which generated a total of $413.7 billion in economic output last year alone.
By The Numbers
469k
Californians directly employed by the biotechnology industry in 2022
6.0%
Increase in employment for the life science industry in California, outpacing all other industries in the state
$131.8k
Average salary California biotech employees were paid in 2022
$12.5B
Total estimate venture capital investment in California biomedical companies
1.19 M
Californians directly and indirectly employed by the biotechnology industry in 2022
$413.7B
Total economic output generated by California’s biotech industry
16.6k
Number of biomedical facilities in California, the birthplace of the biotech industry