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CHI and PwC US Release 2014 California Biomedical Industry Report
Date:11/21/2013

S. San Francisco, CA (PRWEB) November 21, 2013

California’s biopharmaceutical and medical device employment grew by two percent from 2008-2012, according to the annual California Biomedical Industry Report, published today by the California Healthcare Institute (CHI) and PwC US. In addition, California is projected to receive the largest share of life sciences venture capital funding in the nation during 2013, with 45 percent of all medical device and biopharmaceutical funding expected to go to California-based companies. The report found that California’s biomedical industry generated more than $96 billion in revenues in 2012, and directly employs 267,000 people with average annual salaries of more than $95,000.

“California is the birthplace of innovation and the state continues to lead the nation in high-paying jobs that directly contribute to the health and well-being of Americans and people around the world,” said CHI President and CEO David L. Gollaher, Ph.D. “The biomedical ecosystem in the state continues to thrive; indirect and induced employment provide an additional 497,000 jobs in supporting industries, multiplying the sector’s economic impact.”

The California Biomedical Industry Report provides annual highlights of the biomedical industry in California. Key findings of the 2014 report include:

  • During 2008-2012, biopharmaceutical and medical device employment in California grew two percent; in contrast to states traditionally associated with these industries that lost jobs.
  • The biomedical industry directly employs 267,000 people in the state, and indirect and induced jobs add another 497,000, totaling 764,000 jobs created by the biomedical industry in California.
  • Total biomedical industry revenue in California in 2012 topped $96 billion.
  • Average annual salaries for direct biomedical employees in the state are more than $95,000.'/>"/>

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