Inside INdiana Business

BioCrossroads touts life sciences growth in 2019

(photo courtesy of BioCrossroads)

INDIANAPOLIS (Inside INdiana Business) — BioCrossroads says 2019 saw continued growth in the state’s life sciences sector. The organization says acquisitions and investments from life sciences companies contributed to the state once again ranking as one of the top five most concentrated life sciences states in the country.

The state’s life sciences initiative says Indiana now has 2,157 companies and 56,575 employees in the industry. The state is also the second highest exporter of life sciences products in the U.S., with exports totaling more than $10.5 billion, according to data from the Indiana Business Research Center at the Indiana University Kelley School of Business.

“Indiana’s life sciences industry is a critical component of the state’s economy, and the sector contributes to public health in meaningful ways, particularly in these times of uncertainty,” said Patty Martin, chief executive officer of BioCrossroads. “Our key indicators show a thriving life sciences industry with innovations and collaborations that have global impact.”

BioCrossroads says the average wage for the life sciences sector has increased to $102,370 per worker, an increase of nearly $5,000 over 2018. The sector has a total payroll of $5.8 billion for the state.

You can view more statistics from BioCrossroads by clicking here.

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