A recent report released by the major global life sciences trade organization provides further validation of our state and regional strength in the bio-economy.
The Battelle Institute and the Biotechnology Industry Organization (BIO) released their annual “State BioSciences Initiatives” report at the BIO International Conference in Chicago earlier this week. The results show that the major life sciences firms headquartered in Central Indiana and across the state continue to thrive, and that the efforts of BioCrossroads and others are paying off in encouraging new opportunities and entrepreneurial growth.
Among the highlights – Indiana has outpaced the nation in life sciences job growth over the last decade. Indianapolis ranks second in the nation in metropolitan employment in pharmaceuticals, leading other Central Indiana metros like Lafayette, Bloomington, and Columbus that also ranked among the leaders (adjusted for size) in this sector.
The Bloomington MSA also ranked number one among smaller metros in the Medical Device and Equipment sector. (The BIO report did not include Warsaw, Indiana, home to nearly a third of the global orthopedic device industry, because it did not rank among the metros ranked due to population.)
The report overall shows that Indiana’s life sciences sector demonstrates strength across a number of industry sub-sectors, displaying a healthy economic diversity and potential for continued growth. It echoes a comment from the June 4, 2009 edition of The Economist that our colleagues at BioCrossroads are fond of quoting: “Though every state wants to be a hub for life sciences, Indiana really is one...”
Learn more about the BIO/Battelle report here.
Powered by Compendium
Comments for BIO report reaffirms Indiana's strength in the life sciences economy