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Biomedical Industry Jobs Critical to California's Economic Recovery, Finds California Healthcare Institute and PricewaterhouseCoopers

the biomedical industry tied with aerospace manufacturing for the smallest percentage loss among high tech industries in California.  Biomedical job losses were primarily driven by the decline of 2,955 positions in the medical devices and wholesale trade industries, which were offset by a gain of 428 positions in academic research, biopharmaceuticals and laboratory services.

Even during the economic downturn and despite a slight drop in statewide biomedical employment, all four of the state's leading biomedical clusters grew from March 2008 to March 2009 according to county-level data:

                              March 2008     March 2009
                              Biomedical     Biomedical
    Biomedical Cluster        Workforce      Employment     Growth
    San Francisco Bay Area      51,347         51,886        1.0%
    Los Angeles                 44,156         45,064        2.1%
    Orange County               30,052         30,386        1.1%
    San Diego                   23,545         24,123        2.5%

Access to Capital

According to the PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report with data provided by Thomson Reuters, California life sciences companies attracted $2.6 billion'/>"/>

SOURCE PricewaterhouseCoopers LLP
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