Growing the Economy

Biotech's Economic Impact

According to a report from the Battelle Institute, North Carolina biotechnology industry's total impact is:

• 226,823 jobs
• $12.7 billion in employment compensation
• $64.6 billion in North Carolina business volume
• $1.92 billion in taxes generated for state and local government
• A thriving industry with more than 500 companies

Long-term commitment

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 25 years ago when we established the North Carolina Biotechnology Center. While competing states are just starting out, North Carolina has invested more than $1.2 billion to the biosciences in just the past 10 years.

During the last decade North Carolina has committed: (through 2008)

• $857 million into research and facilities
• $135 million toward workforce training
• $115 million via the North Carolina Biotechnology Center
• $102 million to infrastructure in direct company incentives

Investment Report (pdf)
Read the 2008 Battelle Report
Read the 2010 Battelle Report

North Carolina: like nowhere else in the world for biotechnology