The North Carolina Biotechnology Center recently commissioned the Battelle Institute's Technology Partnership Practice to perform a study on biotechnology's impact on the state.
Download your own copy of the Battelle Report
We think you'll be impressed with their findings:
Biotechnology's impact on North Carolina:
- Estimated biotechnology sector revenues in North Carolina are $28.7 billion (2006)
- Payroll is estimated at $4.5 billion for 53,200 workers (2006)
- Biotechnology companies and their employees spend money on goods and services. That spending puts another $17.1 billion into the state's economy each year.
- Total: $45.8 billion, 180,007 jobs
- $9.4 billion in employee compensation (2006)
- $1.4 billion in state and local tax revenues (2006)
In comparison with other states:
- From 2001 to 2006, the net job growth was 18.5 percent; three times the national bioscience growth, and five times the state's private sector growth
- That growth rate is by far the largest in comparison to the top-10 biotechnology states
Companies awarded loans from the NC Biotechnology Center:
- Created 3,734 jobs
- Pay $193 million in employment compensation
- $26.8 million in state and local taxes
Since 1998, North Carolina has invested:
- $102 million in incentives
- $115 million to the North Carolina Biotechnology Center
- $135 to workforce training
- $857 million in biotechnology/life science research
Investment Report (pdf)