Opening Bell
Statshot: Biopharma Bonanza
State boasts diverse areas of expertise
By Seattle Business Magazine July 6, 2023
This article originally appeared in the July/August 2023 issue of Seattle magazine.
Washington’s life science industry is thriving. The sector includes academic and nonprofit research institutions and companies conducting research and development in biotech, medical devices, digital health, bioagriculture, biofuels, and veterinary medicine. Genetic Engineering & Biotechnology News ranks the state’s life science cluster among the top 10 in the United States.
The Numbers
- 11,000 Life science organizations
- 408 Companies located in Seattle
- 43,456 People employed directly in life sciences jobs
- 104,232 Jobs supported by the industry
- 33.6% Job growth 2015-2021
- 45% Women in the life science industry workforce
- $123,108 Average annual wage
- $84,068 Average annual wage for all non-life science jobs
- $10.9B Total wages and benefits
- $35.3B Total economic impact
- $20.7B Contribution to state’s GDP
- $1.6B Contribution to state and local tax revenue
Big Number
$6.065 Billion
Venture Capital raised by life science companies in Washington state between 2020 throughout the first quarter of 2022, fourth highest in the U.S.
Source: Life Science Washington
Quote
“We’re seeing an array of jobs across research and development, clinical trials, manufacturing, as well as tapping the region’s deep expertise in computing.”
Marc Cummings, president and CEO, Life Science Washington