Biosciences pick up momentum in Michigan
From 2006 to 2008 Michigan’s bioscience industry added 3,300 jobs, faster than the national average, reports Business Review West Michigan.National trade group BIO in its biannual report said the industry directly employed 37,180 people as of two years ago, growing nearly 10 percent from 2006 in jobs.The industry pays an average annual wage of $76,394.The BIO report ranked Michigan 10th nationally in bioscience research and development in 2008, 13th in clinical trials initiated in 2009, and 18th in venture capital investments and 17th in related patents from 2004 to 2009. Excerpt: Across Michigan, research, testing and medical labs remained the largest and fastest-growing industry subsector from 2006 to 2008, growing by 18.5 percent, or nearly 2,500 jobs, and adding 85 new companies. MichBio, the industry’s trade association in Michigan, attributed the growth in research, testing and medical labs to start-up companies formed out of corporate downsizings at pharmaceutical and device companies, coupled with a growing need for diagnostic and medical testing for health care providers. The medical device and equipment subsector added more than 1,300 jobs from 2006 to 2008, an 11.9 percent increase. For more study results, see the entire story. Source: Business Review West Michigan
From 2006 to 2008 Michigan’s bioscience industry added 3,300 jobs, faster than the national average, reports Business Review West Michigan.
National trade group BIO in its biannual report said the industry directly employed 37,180 people as of two years ago, growing nearly 10 percent from 2006 in jobs.
The industry pays an average annual wage of $76,394.
The BIO report ranked Michigan 10th nationally in bioscience research and development in 2008, 13th in clinical trials initiated in 2009, and 18th in venture capital investments and 17th in related patents from 2004 to 2009.
Excerpt:
Across Michigan, research, testing and medical labs remained the largest and fastest-growing industry subsector from 2006 to 2008, growing by 18.5 percent, or nearly 2,500 jobs, and adding 85 new companies.
MichBio, the industry’s trade association in Michigan, attributed the growth in research, testing and medical labs to start-up companies formed out of corporate downsizings at pharmaceutical and device companies, coupled with a growing need for diagnostic and medical testing for health care providers.
The medical device and equipment subsector added more than 1,300 jobs from 2006 to 2008, an 11.9 percent increase.
For more study results, see the entire story.
Source: Business Review West Michigan
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