The Economic Impact of Life Science in California
2021 California Economic Impact Report
The 2021 Biocom California Economic Impact Report provides key economic, demographic, investment, and industry performance data and analysis for the Life Sciences industry in California and for select regions in the state. In 2020, the Life Science sector undertook groundbreaking work at an unprecedented pace to lead the fight against the SARS-COV-2 virus. With biotech and pharma leading the pandemic response, the Life Science industry quickly developed diagnostics, therapeutics and vaccines, served as a stabilizing economic force, and retained its role as a major source of innovation. The industry demonstrated strong and sustained growth across California, defying the economic disruption experienced by most industries as a result of the pandemic.
California’s life science industry provides over 1.37 million jobs in the state, with economic activity generating $405 billion in Total Business Sales in 2020. The state received more than $5.5B in NIH funding in the fiscal year 2020.