The Ohio Bioscience Growth Report, released Monday, says the industry generates billions of dollars for the state and is continuing to grow.
Local companies Alkermes, Medpace, Midmark, and Q Laboratoriesare among dozens of science businesses expanding, according to the latest report from BioOhio. Together they plan to hire more than 9,000 people and make over $1 billion dollars in capital investments.
Ohio's biotech boom is not new. In the last five years almost 400 new bioscience-related firms began operations in Ohio. They include start-ups like Cincinnati's Xact Medical, with fast, intelligent needle delivery,as reported by WVXU.
Other bioscience companies attracted more than $2 billion in funding last year from federal research grants, the Ohio Third Frontier, and venture capital. The 75,000 people who work in Ohio bioscience make an average of $76 thousand a year.
The report says all six Ohio regions have experienced growth in the bioscience industry. Over 75,000 employees work for at least 3,186 bioscience-related organizations, manufacturing products, providing essential services or doing research at 3,994 facilities in Ohio, generating $5.68 billion of payroll at an average wage of $75,640.
