Study shows growth in Indiana’s life sciences ecosystem
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A new report from the Biotechnology Industry Organization shows Indiana added more than 7,000 jobs in the life sciences sector over the last 10 years. With now more than 70,000 jobs, the state remains in the top 10 for life sciences employment.
The biennial report was released Monday by BIO, which bills itself as the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations, as well as Ohio-based research firm TEConomy Partners.
Titled “The U.S. Bioscience Economy: Driving Economic Growth and Opportunity in States and Regions,” the report analyzes economic progress and geographic footprint of the bioscience industry across the country.
The report found that Indiana has seen an overall 12.1% growth in the life sciences sector since 2019, which was supported by double-digit job gains in three industry subsectors: bioscience-related distribution, pharmaceuticals, and research, testing, and medical laboratories.
“Indiana’s specialized employment concentration in the biosciences is supported by a diverse mix of strengths, with specialized concentrations in three of the five industry subsectors—agricultural feedstock and industrial biosciences, medical devices and equipment, and pharmaceuticals,” the report said.
The report also found that the average bioscience wage in Indiana was $118,568, which is 97% higher than Indiana’s private sector average.
“The numbers speak for themselves,” Kristin Jones, president & CEO of the Indiana Life Sciences Association, said in a news release. “Indiana continues to be fertile ground to grow life sciences companies and attract top national and international talent. As we head into 2025, our diverse life sciences industry will keep us ahead of our national competitors.”
The report also noted that the Indianapolis metro area is ranked fourth in the country for the number of employees in pharmaceuticals, with Bloomington also making the top 25. Additionally, Lafayette-West Lafayette and Indianapolis are among the top metro areas for employment in agricultural feedstock and industrial biosciences.
You can connect to the full report by clicking here.
