SOUTH SAN FRANCISCO, SAN DIEGO, SACRAMENTO, Calif., July 21, 2023 (GLOBE NEWSWIRE) — New data shows California’s life sciences sector produced $472 billion, supported more than a million jobs, and increased its lead as a center for the nation’s research activities. California Life Sciences (CLS), the trade association representing California’s life sciences sector, today released a new report showing the latest industry trends, including economic impact, workforce, the state of diversity, and the effects of the Inflation Reduction Act on innovation. View the California Life Sciences 2023 Sector Report and regional fact sheets here.
“California’s life sciences sector leads the nation in R&D investment and labor, delivering innovation and therapies that have a life-changing impact on patients,” said Mike Guerra, CLS president and CEO. “This report demonstrates our sector’s outsized impact on the national and global economy.”
Key findings include:
- The number of life sciences establishments in California grew 6% since 2020.
- In 2022, California was the top state in funding awarded by the National Institutes of Health and National Science Foundation, receiving $5.5 billion and $97.3 million, respectively.
- California’s life sciences sector directly employed 335,231 people in 2021, and indirectly supported 1,105,525 jobs.
- Venture capital investment increased more than 50 percent from $11.4 billion in 2019 to $17.3 billion in 2022.
Join us on August 23 for a town hall with CLS executives Mike Guerra, Marc Fields, and Brent Fisk. They’ll explore the report findings and what keeps California a viable leader in driving innovation, advancing therapies, and improving health outcomes. Register here.
About California Life Sciences: California Life Sciences (CLS) is the state’s most impactful life sciences membership organization, advocating for the sector and its diverse innovation pipeline. For more than 30 years, CLS has served the community by supporting companies of all sizes, from early-stage innovators and startups to established industry leaders in the fields of biotechnology, pharmaceuticals, and medical technology. As integral components of a healthy and collaborative ecosystem, CLS also works closely with universities, academic and research institutions, the investment community, and other critical partners that promote this vibrant sector. With offices in South San Francisco, San Diego, Sacramento, Los Angeles, and Washington DC, CLS works to shape public policy, improve access to breakthrough technologies, educate lawmakers, and advance equity within our ecosystem by championing innovative solutions for some of the most pressing challenges of our times. In doing so, CLS fulfills its mission to protect and nurture California’s life sciences industry, empowering discoveries that lead to healthier lives around the world. #WeAreCaliforniaLifeSciences
- JUST RELEASED: 2023 California Life Sciences Sector Report
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