University of Delaware Study Demonstrates Economic Impact of Biopharmaceutical and Related Sectors
WILMINGTON, Del., March 31 /PRNewswire-USNewswire/ -- Members of Delaware's business, labor, academic and health care groups today introduced "We Work for Health" (WWFH) of Delaware, a unique network of partners dedicated to protecting and fostering medical research and innovation in Delaware - and throughout America - at launches held at the Wilmington Hospital Conference Center and on the east steps of Legislative Hall in Dover.
The United States and Delaware in particular has been a worldwide leader in medical innovation and scientific discovery, and this is especially true of the state of Delaware. Medical innovation is a critical element of our state's and nation's economy.
"New advancements in medicine, improved health status, countless jobs and steady economic growth have all resulted from continued efforts to further medical innovation," said Delaware WWFH co-chair Bob Dayton, President of Delaware Bioscience Association.
"Delaware medical innovators create thousands of high-paying jobs, and their discoveries are integral in the fight to cure cancer and other illnesses," said Delaware WWFH co-chair Robert J. Laskowski, M.D., Christiana Care Health System, President & CEO.
The important economic impact of the Biopharmaceutical and related sectors on the state is detailed in a new study conducted by the University of Delaware's Center for Applied Demography & Survey Research. The full study can be viewed at www.cadsr.udel.edu.
"While Delaware is small, the biopharmaceutical industry's share of Delaware's jobs and wages is the 6th largest in the United States," said study co-author Simon Condliffe, Center for Applied Demography and Survey Research, University of Delaware. "The overall outlook for this industry, both locally and nationally, is positive, and employment is expected to grow steadily over the next twenty years."
Among the study's findings:
- In 2008, nearly 12,000 people were employed by the industry.
- Industry activities generate an additional 16,000 jobs annually in addition to the 12,000 employed directly by the industry.
- Aggregate industry wages approach $1.6 billion, with an estimated $74 million in state income taxes paid.
- Annual wages in the industry ($132,000) are significantly higher than in all other industries in Delaware; this marks a rapid rise in those wages.
- The biopharmaceutical industry is clearly export-based, which has a significant positive impact on the entire economy.
- In spite of its small size, Delaware ranks 20th over the past five years in the number of biopharmaceutical patents. However, if this is adjusted for the size of the state, Delaware ranks 3rd behind Connecticut and Massachusetts.
- Collectively, Delaware's biopharmaceutical industry generates $4.5 billion in sales annually - and continues to grow.
- The direct and indirect impact of the industry generate $4 billion in gross state product (6.8% of total GSP) and $2 billion in personal income (5.6% of total PI) annually.
- The industry pays an estimated $9.5 million in corporate income taxes, $7.5 million in property taxes, $435 million in employee benefits, and $66 million in corporate charitable contributions, and their employees contribute another $47 million annually.
Co-Chairs for WWFH Delaware:
Delaware BioScience Association, President
Delaware Valley Innovation Network (DVIN), Executive Committee
Robert J. Laskowski, M.D.
Christiana Care Health System, President & CEO
Delaware AFL-CIO, President
Miguel McInnis, MPH
Mid-Atlantic Association of Community Health Centers, Chief Executive Officer
Delaware Health Care Commission
WWFH of Delaware has partners across the state including:
- ABS, Inc.
- AFL-CIO Delaware
- Agilent Technologies
- American Cancer Society - Delmarva Region
- American Diabetes Association, Delaware Chapter
- American Federation of State, County and Municipal Employees (AFSCME) - Local # 1607 and # 640
- American Postal Workers Union (APWU) - Southern Delaware Area
- ANP Technologies
- Asbestos Workers - Local #42
- Building & Construction Trades Council of Delaware AFL-CIO
- Christiana Care Health System
- Delaware BioScience Association
- Delaware Biotechnology Institute
- Delaware Ecumenical Council on Children & Families
- Delaware HIV Consortium
- Delaware Pharmacists Society
- Delaware Technology Park
- Delmarva Rural Ministries
- Epilepsy Foundation of Delaware
- H & S Enterprise, Inc.
- Henrietta Johnson Medical Center
- iBiopharma, Inc
- Incyte Corporation
- Integrated Social Solutions
- International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers (Iron Workers)
- International Brotherhood of Electrical Workers (IBEW) - 31238
- International Union of Bricklayers and Allied Craftworkers (BAC) - Local #1
- International Union of Operating Engineers (IUOE) - Local 542
- Isogen LLC
- Juvenile Diabetes Research Foundation (JDRF)
- Laborers' International Union of North America - Local 1029
- Mid-Atlantic Association of Community Health Centers
- National Association of Letter Carriers (NALC)
- New Castle County Chamber of Commerce
- New Castle County Economic Development Council
- SL Pharma Labs, Inc.
- United Association of Plumbers and Pipefitters - Local 74
- United Automobile, Aerospace & Agricultural Implement Workers of America International Union (UAW) - Local # 435 and # 1183
- United Food & Commercial Workers (UFCW) - Local #27
- United Steelworkers of America (USWA)
- United Way of Delaware
- University of Delaware
- Westside Family Healthcare
CONTACT: Dan Ronayne
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|SOURCE We Work for Health of Delaware|
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