Growing the Economy
Biotech's Economic Impact
According to a report from the Battelle Institute, North Carolina biotechnology industry's total impact is:
- 237,665 jobs
- $59 billion in North Carolina business volume
- $1.73 billion in taxes generated for state and local government
- A thriving industry with more than 500 companies
Across the United States and around the world, officials are announcing huge investments to create bioscience clusters. The news is filled with government investments of hundreds of millions, or even a billion, dollars.
In North Carolina, we got started about 30 years ago when we established the North Carolina Biotechnology Center.
The Battelle report helps explain how this investment is paying annual dividends in jobs and revenue statewide.