LA County Emerges as California's Third Biotech Hub, Report Shows
According to the recently released Biocom 2019 Economic Impact Report Databook Los Angeles County has a strong life science industry. The report found the following:
Los Angeles County’s Life Science Industry directly employed 91,713 people in 2018 with average annual earnings of $83,449. Total jobs in the region (direct/indirect/induced) was 190,974 in 2018 and economic activity generated $42.5B. Employment in the Research & Lab Services subsector experienced the most growth in the region, with an increase of 11% from 2013 to 2018, likely as a result of Los Angeles County receiving more NIH funding each year than any other county in California. While more geographically dispersed as a cluster than San Diego County or the Bay Area, the Life Science industry remains a highly important economic engine for Los Angeles County.
California received more than $4.2B in NIH funding in fiscal year 2018 with $1.1B flowing to Los Angeles County’s universities, labs and companies to support research in the life sciences industry. This is more than any other county in California and more than 25% of the total California NIH Awards. [Source: NIH (4/12/2019)]
