Innovation Helps the Economy
Aside from lives and healthcare dollars, innovation also helps to save jobs vital to the US economy.
- The biopharmaceutical industry supports an estimated 3.2 million jobs across the US economy.1
- The biopharmaceutical sector’s direct contribution to GDP is $88.5 billion annually, triple the contribution from other sectors.1
- Investments in biopharmaceutical research and development pump as much as $56.1 billion into the US economy annually.1
Learn more about the importance of preserving an environment that rewards and encourages continued innovation.
References:
- Eckstut MK, Chang AY, Blair EL, Apostolatos AJ on behalf of Archstone Consulting; Burns LR. The Biopharmaceutical Sector’s Impact on the US Economy: Analysis at the National, Sate, and Local Levels. Archstone Consulting Web site. Available at http://www.archstoneconsulting.com/biopharmapdf/report.pdf. Updated March 2009. Accessed Oct 5, 2010.