Deep base of biopharma jobs detailed in report
Massachusetts is one of the top states in the nation when it comes to biopharmaceutical jobs, with more than 55,000 people directly employed in the sector, according to a report released Tuesday by an industry group.
The report, prepared for the Pharmaceutical Research and Manufacturers of America by TEConomy partners, tallied 55,184 biopharmaceutical jobs in Massachusetts in 2014, with another 209,477 jobs at the industry's vendors, suppliers and businesses serving biopharmaceutical workers.
Along with California, Illinois, New Jersey, North Carolina and Pennsylvania, Massachusetts is one of six states where the biopharmaceutical sector supports more than 250,000 jobs.
California leads the country with 851,563 jobs supported by the biopharmaceutical sector, including 145,880 direct jobs and 705,683 indirectly supported. New Jersey's biopharmecutical sector directly accounts for 65,783 jobs and indirectly supports 312,943, while Illinois has 45,561 direct and 247,761 indirect jobs.
"The United States leads the world in bringing new medicines to market. Beyond the value that these medicines deliver to the patients who need them is the profound impact a strong biopharmaceutical sector has on our local, state and national economy," PhrMA president and CEO Stephen Ubl said in a statement. "This report underscores the critical need to support policies that encourage biopharmaceutical sector R&D investment in order to continue to bring new medicines to patients, strengthen the U.S. economy and maintain our competitiveness in the global marketplace."
The biopharmaceutical sector in Massachusetts directly generated $28 billion in economic output in 2014, the report said.
That same year, Bay State workers in jobs supported by the biopharmaceutical industry earned a total of $21.9 billion in wages and benefits, resulting in an estimated $4.3 billion in federal tax revenue and $676.2 million in state taxes, according to the report.
The average worker directly employed by the biopharmaceutical industry in Massachusetts earned $141,263. Nationwide, average wages and benefits for a direct biopharmaceutical job hit $123,107, the report said.
Of the direct biopharmaceutical sector jobs in Massachusetts, the largest portion -- 22 percent -- is comprised of careers in the life, physical and social sciences. Another 14 percent are in architecture and engineering, with 12 percent in management, 11 percent in office and administrative support, 10 percent computer and mathematical, 9 percent business and financial operations and 8 percent in production, the report said.
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