Life Science Industry in Los Angeles generates $44.2 billion annually, supporting nearly 200k jobs
The 2020 Life Science Industry Report produced by Biocom finds that in Los Angeles County the industry provides 195,820 jobs (direct, indirect, and induced) and economic activity of $44.2 billion in 2019. For the state of California, the life sciences industry provided 1.4 million jobs and $372 billion in economic activity.
2020 California Economic Impact Report: Los Angeles County
Los Angeles County’s Life Science industry directly employed 93,330 people in 2019 with average annual earnings of $86,501. Total jobs in the region (direct/indirect/induced) was 195,820 in 2019 and economic activity generated $44.2B. While Pharmaceutical Manufacturing grew slightly in the region, the most notable growth was recorded in the Research and Laboratory Support cluster, and the Life Sciences Wholesale Trade sectors. The Medical Scientists occupation also grew strongly rising about 23% from 2014 to 2019. Although the region’s Life Sciences clusters are still growing in competitiveness, the $11.6 billion in Life Sciences exports from Los Angeles County firms in 2019, along with the fact that Los Angeles County received more NIH funding than any other county in California, proves that the industry remains a highly important economic driver for Los Angeles County.
The report further highlights one of the foundational metrics for the life science industry, National Institutes of Health (NIH) research funding. In fiscal year 2019 Los Angeles County, home to some of the premier research universities and hospitals in the world, received $1.15 billion in NIH research funding.
Read more from this exciting report here!
