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North Carolina's Biotechnology Investment Tops Billion-Dollar Mark; Battelle Study Quantifies Economic Dividends and Jobs
Date:11/20/2008

nd one of the many North Carolina workers who have enjoyed significant career advancement via the state's workforce training programs and other bioscience support;

  • Matthew Meyer, director of the North Carolina Community Colleges' BioNetwork biotechnology training program;

  • Sam Taylor, president of the North Carolina Biosciences Organization;

  • Norris Tolson, president and CEO of the North Carolina Biotechnology Center;

  • Simon Tripp, principal consultant with the Battelle Memorial Institute's Technology Partnership Practice.

Key Findings of the Battelle Report include:

As of 2006, the latest year for data totals:

  • The biotechnology sector directly produced yearly revenue in North Carolina of $28.7 billion.
  • Biotechnology employed 53,200 people.
  • Biotech directly provided annual payroll of $4.5 billion.
  • The state's biotech employees earn an average $69,725 a year ($32,000 more than other private-sector workers in the state).
  • Employee compensation for direct, indirect and induced impact is $9.4 billion.
  • State and local tax revenues from the total economic impact is $1.4 billion.

From 2001 to 2006

  • Net job growth in the state's bioscience sector was 18.5 percent.
  • That rate of growth is three times the national bioscience rate.
  • North Carolina easily leads the top 10 biotech states' in this statistic.
  • Biotech job growth was five times that of the rest of North Carolina's private business sector.

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SOURCE North Carolina Biotechnology Center
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