Analysis: Alabama Bioscience Industry’s Impact Tops $7.3 Billion A Year

| May 18, 2018 @ 5:00 am

By Jerry UnderwoodMade in Alabama

Alabama’s multifaceted biosciences industry generates $7.3 billion in economic activity annually while supporting 780 companies and nearly 48,000 direct and indirect jobs across the state, according to a new analysis by researchers at the University of Alabama.

The comprehensive study underscores the contributions and growth potential of the statewide life sciences sector, a robust combination of research institutions, medical labs, innovative startups, international pharmaceutical manufacturers and more.

“We have exceptional strengths in biosciences, including world-class research organizations and a roster of cutting-edge companies, so it’s a natural growth area for the state,” said Greg Canfield, secretary of the Alabama Department of Commerce.“We’re committed to helping accelerate the development of the life sciences sector, and we want the state to become home to more of these high-paying jobs and the talented individuals to fill them,” he added.

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