Driving Growth

The confluence of innovative thinking, hard work and ample funding has created a life sciences powerhouse, which continues to be a major economic driver throughout California. As noted earlier, in 2013 California’s biomedical industry employed more than 270,000 people, with an average salary of around $101,540.

As a whole, the California life sciences industry produced $101 billion in revenue, paid $7.2 billion in direct federal taxes and $3.7 billion in direct California state and local taxes. California’s biomedical exports in 2013 increased to $22.2 billion from $20.9 billion in 2012.

But the economic impact of the life sciences goes far beyond the companies that develop our drugs, devices and diagnostics. Hundreds of thousands more Californians, in a wide variety of areas, support the industry. As a result, the biomedical sector is a key factor in sustaining growth throughout California.