Friday, March 4, 2016

Oregon Bioscience: Where Technology Meets Our Lives

Bioscience companies are involved in a wide range of activities relating to innovations rooted in biology. Bioscience includes research and development of innovative healthcare, agricultural, industrial, and environmental biotechnology products.

BIO, the bioscience industry association, represents biotechnology companies, academic institutions, state biotechnology centers, and related organizations across the United States and in more than 30 other nations. A 2014 report from BIO found that in 2012, U.S. bioscience companies employed 1.6 million people across more than 73,000 individual business establishments. The industry continues its tradition of creating high-wage, family-sustaining jobs with average wages 80 percent greater than the overall private sector and growing at a faster rate.

There are 18,273 employees in the Oregon bioscience industry (taking the average for the four quarters ending in the third quarter of 2015). The bioscience industry cuts across many diverse fields such as research and distribution, medical devices, pharmaceuticals, and chemicals. This diversity makes it challenging to measure. Adding up the total employment across almost a dozen industry classifications, we find a total payroll of almost $1.3 billion for 18,273 employees.

The wages in the bioscience industry, at $68,654, are noticeably higher than wages in all industries in Oregon, $47,666. The highest wages are found in the sector relating to research, testing, and medical laboratories at $74,619, though every sector in the industry pays higher than average wages in Oregon.

To learn more about notable players in Oregon bioscience industry, read Workforce Analyst Christian Kaylor's full article: Oregon Bioscience: Where Technology Meets Our Lives.

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