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Coalition of Business, Labor, Academia and Bioscience Groups to Promote Medical Innovation, Spark Economic Growth
Date:3/31/2009

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:

Bob Dayton

Delaware BioScience Association, President

Delaware V
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SOURCE We Work for Health of Delaware
Copyright©2009 PR Newswire.
All rights reserved

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