Alive and well: a recent study reveals strong growth in the state's life-sciences sector.
Position | SPONSORED SECTION: LIFE SCIENCES HANDBOOK |
Data is the lifeblood of North Carolina's life-sciences sector. But the latest numbers, compiled every two years by Columbus, Ohio-based economic development researcher TEConomy Partners LLC for Research Triangle Park-based N.C. Biotechnology Center, are proving important to the t entire state.
The sector makes an $86 billion annual economic impact on the state. It directly employed more than 70,000 people--260,000 when you factor in suppliers and support services--in 2016. That's 40% more jobs since 2001, which is the fastest growth rate anywhere in the industry. The sector accounts for 10% of new jobs in the state, and its average annual salary is more than $87,000, according to the report. That's 13% more than in 2001 and nearly twice the average annual salary of the state's private-sector jobs.
Life-sciences companies perform varied work. Almost 400 are in research and development, and about 130 do contract research and testing. The rest are in manufacturing. Every day, they push further into the worlds of medical devices, cell therapies, regenerative medicine and other cutting-edge disciplines. This section introduces you to four of them--Burlington-based Mycorrhiza Biotech LLC...
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