{"id":8511,"date":"2022-10-26T08:27:27","date_gmt":"2022-10-26T13:27:27","guid":{"rendered":"https:\/\/ibio.org\/?p=8511"},"modified":"2022-10-27T08:50:07","modified_gmt":"2022-10-27T13:50:07","slug":"2022industryreport","status":"publish","type":"post","link":"https:\/\/ibio.org\/2022industryreport\/","title":{"rendered":"New data released from the Biotechnology Innovation Organization (BIO) and TEConomy Partners about the bioscience industry in the United States"},"content":{"rendered":"<p style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">October 26, 2022<\/span><\/i><\/p>\n<p style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">New data released from the Biotechnology Innovation Organization (BIO) and TEConomy Partners about the bioscience industry in the United States<\/span><\/i><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The new report released this morning, <\/span><a href=\"https:\/\/ibio.org\/wp-content\/uploads\/TEConomy-BIO-2022-Report-vFinal-copy.pdf\"><i><span style=\"font-weight: 400;\">The U.S. Bioscience Industry: Fostering Innovation and Driving America\u2019s Economy Forward<\/span><\/i><\/a><span style=\"font-weight: 400;\">, examines the bioscience industry\u2019s economic performance and footprint across the nation and individual states during the pandemic. This report is the 10th edition of the biennial series.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The report <\/span><span style=\"font-weight: 400;\">reveals that the industry has grown during the last two and a half years, generating high-wage jobs and significant economic impacts\u2013all during powerful economic and global pandemic challenges. Specifically, the economic impact of the bioscience industry on the U.S. economy, as measured by overall output, totaled $2.9 trillion dollars in 2021. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p style=\"font-weight: 400;\"><b>Highlights of the <\/b><a href=\"https:\/\/ibio.org\/wp-content\/uploads\/IL-BIO2022-state-profile.pdf\"><b>Illinois report findings<\/b><\/a><b> include:\u00a0<\/b><\/p>\n<ul style=\"font-weight: 400;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Illinois\u2019 bioscience industry employment base has grown by 4.5% from 2018-21, acting as a key economic engine during a period when private sector employment in the state declined by 4.8%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Illinois is among the top tier of all states in bioscience industry employment; establishments; university bioscience-related R&amp;D expenditures; NIH funding; and VC investments in bioscience-related companies.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Bioscience industry employment: 90,941<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Bioscience venture capital investments, 2018-21 ($ millions): $4,219 <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">(2021 alone = $1,966MM)<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>October 26, 2022 New data released from the Biotechnology Innovation Organization (BIO) and TEConomy Partners about the bioscience industry in the United States The new report released this morning, The U.S. Bioscience Industry: Fostering Innovation and Driving America\u2019s Economy Forward, examines the bioscience industry\u2019s economic performance and footprint across the nation and individual states during [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[143],"tags":[],"class_list":["post-8511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ibio-news"],"_links":{"self":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/posts\/8511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/comments?post=8511"}],"version-history":[{"count":1,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/posts\/8511\/revisions"}],"predecessor-version":[{"id":8512,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/posts\/8511\/revisions\/8512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/media\/4255"}],"wp:attachment":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/media?parent=8511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/categories?post=8511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/tags?post=8511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}