Bioscience brings big bucks to Wisconsin’s economy, study shows
Excerpted from Wisconsin State Journal
By Judy Newman
Wisconsin’s bioscience industry includes more than 1,600 companies that provide jobs for nearly 36,000 people and pay a salary well above that of the average employee in the state, a new study shows.
Bioscience workers, on average, make $73,241 — more than $30,000 above the average pay of Wisconsin private sector employees, according to the 2015 Wisconsin Bioscience Economic Development Report, released Wednesday.
The report, by the Ernst and Young consultant firm, is based on 2013 statistics. It is being presented to the Bioscience Summit, a daylong conference for the biotechnology industry being held at Monona Terrace on Wednesday.
It says in addition to the 36,000 jobs within bioscience statewide, the industry is an indirect factor in nearly 70,000 other jobs in Wisconsin, creating a total economic impact of $27 billion.
The study is meant to let the state know how important its bioscience industry is to the economy, said Lisa Johnson, CEO of BioForward, the organization representing the industry.
“We are celebrating the strength we do have in this state and how we need to collaborate in the future as the lines become blurred between the various sectors such as health IT, diagnostics, medical devices, therapeutics, and even agbio,” Johnson said. “For Wisconsin to compete globally, we all must be aligned and have a shared vision.”