The BioUtah 2018 Utah Life Sciences report provides an overview of the industry’s significant presence and economic footprint in the state. The report underscores the industry’s strengths in medical technology, advanced diagnostics, contract manufacturing. biotech and pharmaceuticals.
Importantly, the report provides data on the industry’s positive impact on Utah’s economy, outlining its contribution to job growth, employee compensation and GDP. Interviews with key leaders of Utah’s life sciences industry provide real-world insight into the industry’s vision, achievements and commitment to finding cures and helping patients lead longer, healthier lives. The industry benefits from a wealth of programs, resources and incentives offered through state government, academic institutions and public-private partnerships. The state’s culture of innovation and collaboration is strong.
Major highlights of the report include:
- Utah leads the nation in job growth in the life sciences industry.
- More than 1,000 life sciences companies in Utah provide 34,352 jobs, paying a combined total of $2.7 billion in employee compensation.
- Utah life sciences companies achieved $7.4 billion in total sales in 2016, creating $4.1 billion in GDP.
- Nationally, Utah ranks third in employment in advanced diagnostics.
- Success in capital funding for start-ups
This report was developed with guidance and input from the Governor’s Office of Economic Development, Economic Development Corporation of Utah, the Kem C. Gardner Institute and Utah life sciences companies.