PORTLAND, Ore.--(BUSINESS WIRE)--Oregon Bioscience Association today unveiled the latest economic impact report, showcasing the thriving bioscience industry as a driving force of innovation, employment, and community growth across the state. In 2023, bioscience continued to expand its footprint, delivering impressive gains in economic output, high-paying jobs, and transformative contributions to both urban and rural communities.
Key findings from the report highlight the bioscience sector's broad impact:
- Economic Powerhouse: Oregon’s combined bioscience industry generated a staggering $11.5 billion in direct economic output in 2023, with an additional $9.7 billion in indirect and induced economic activity, resulting in a total impact of $21.2 billion.
- Innovation Engine: Private bioscience consisted of almost 2,000 establishments that directly generated $10.3 billion in output and employed more than 20,000 people directly.
- Job Creation: The industry directly employed over 28,000 people, with high-paying jobs averaging $102,426 for the private sector and an average of $99,760 adding in life science research at universities and hospitals—significantly above Oregon’s private sector average. When multiplier effects are included, the sector supported nearly 75,000 jobs statewide.
- Export Leadership: Bioscience firms contributed $5.6 billion in exports to the state, accounting for over 54% of private bioscience output and positioning Oregon as a global leader in bioscience innovation.
- Statewide Presence: The sector is not just centered in Portland. In 2023, 740 bioscience firms outside the Portland metro area employed over 8,000 workers, paying $688 million in wages and contributing to vibrant local economies.
"The data in the report underscores that Oregon’s bioscience industry is a dynamic driver of economic growth, high-quality job creation, and groundbreaking innovation,” said Alec Josephson, President of Pinnacle Economics. “From our world-class universities to pioneering private companies, Oregon’s bioscience community exemplifies excellence and plays a pivotal role in the $3.2 trillion economic impact of the U.S. bioscience industry. This work not only strengthens the local economy but also contributes to advancements that benefit communities worldwide."
Transformational Growth Since 2002
The report also reflects the extraordinary long-term growth of bioscience in Oregon:
- Private bioscience employment has grown by 127% since 2002, adding nearly 8,000 jobs.
- Total wages in the sector have surged by 376%, with average annual wages for the private sector doubling to $102,426.
- Life science research employment at universities and hospitals has increased by 176%, underscoring the critical role of academic institutions in fueling innovation.
Diversity and Inclusion in Bioscience
The report reveals encouraging trends in workforce diversity:
- Women held 47.1% of the jobs linked to bioscience in Oregon, while minority workers accounted for nearly 29% of total employment.
- The sector employed over 8,000 Hispanic workers, 5,600 Asian workers, and nearly 3,000 Black workers
Economic Multipliers
The bioscience sector’s impact ripples across the state, creating opportunities in other industries:
- Every 10 bioscience jobs are linked to an additional 17 jobs in other sectors, thanks to an employment multiplier of 2.7.
- Every $1 million in bioscience-generated income contributes another $1 million to Oregon’s broader economy, showcasing the sector's interdependence with other industries.
"Oregon’s bioscience industry showcases innovation at every step of the value chain. From advancing life sciences to improve human health and develop cutting-edge medical solutions, to harnessing biotechnology for agricultural and environmental applications, our state’s contributions are both diverse and transformative," said Liisa Bozinovic, Executive Director of the Oregon Bioscience Association. "To sustain this progress, we must ensure a tax and regulatory environment that rewards innovation while maintaining good-paying jobs."
Looking Ahead
The Oregon Bioscience Association is committed to fostering continued growth through workforce development, partnerships with academic institutions, and policies that strengthen the sector’s competitiveness.
"This report clearly highlights the innovation and resilience of Oregon’s bioscience community,” added Bozinovic. “We are excited to build on this momentum and ensure that bioscience advancements benefit communities across the entire state.”
For more details or to explore the full economic impact report, visit the Oregon Bioscience Association website.
About Oregon Bioscience Association
Oregon Bio is a member-supported regional bioscience alliance that fosters industry growth and policy awareness through government advocacy, workforce development, educational programs, enterprise resources, networking events, and public-private research collaborations.
