A report published by BioOhio reveals the importance of bioscience and health care to Ohio's economic recovery.
In a release, the group noted:
In 2007, the overall economic impact of Ohio-based bioscience was $148.2 billion, representing 15.7 percent of Ohio's total economic output. Bioscience also directly and indirectly generated 1.4 million jobs in Ohio in 2007. BioOhio teamed with consulting firm Tripp Umbach, which employed the IMPLAN input-output model to estimate the impact of bioscience economic events in the state of Ohio.
BioOhio's definition of the bioscience industry includes three integrated sectors: commercial bioscience entities, hospitals and healthcare providers, and medical colleges. The commercial bioscience sector alone accounted for a $33.8 billion overall economic impact and 50,100 direct jobs in 2007, up from $27.3 billion and 48,485 direct jobs in 2006. When indirect and induced jobs are factored, the commercial bioscience employment impact jumps to 135,136.
Analysis of commercial bioscience industry segments revealed research and development as the top employment sector (12,415), while agricultural biotechnology contributed the largest direct economic impact ($10.7 billion) in 2007. Medical device and equipment manufacturers directly employed 9,757 Ohioans.
Bioscience, medical technology, and research organizations continue to thrive in Ohio. As of December 2008, 1,141 bioscience-related entities were operating in the state. While company launches and relocations explain some of the 39.5 percent increase since last year's count (818), the expansion is mostly attributable to a more thorough census of organizations. For instance, 636 Ohio companies are FDA-certified to manufacture medical devices and 88 facilities in the state are FDA-certified to manufacture pharmaceuticals. BioOhio determined that nearly half of these companies are actively involved in the value chain of at least one commercial bioscience product.
Bioscience-related entities include those involved in research, development, and marketing of pharmaceuticals, diagnostics, bioinformatics, medical devices, medical equipment, biotechnology products, and health-related products.
Half of Ohio's bioscience entities (574) are located in northeast Ohio, which includes the Cleveland area, Akron, Canton, and Youngstown. Southwest Ohio, anchored by Cincinnati, and central Ohio, which includes the capital Columbus, are each home to about 200 of the state's bioscience-related entities.
'The Ohio Bioscience Growth Report clearly shows that Ohio continues to make great strides in the biosciences, and our bioscience industry is on the fast track creating jobs of the future for Ohioans,' said Lieutenant Governor Lee Fisher, who also serves as Director of the Ohio Department of Development. 'We are once again rated as one of the nation's top technological innovators, recognition of the wide diversity of world-class research institutions, medical centers, and visionary companies that call Ohio home.'
BioOhio (formerly Omeris) is a non-profit organization supported by the Thomas Edison Program of the Ohio Department of Development.
Report Information:
www.bioohio.com/pdfs/growthreport08.aspx
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