Battelle Report Finds West Virginia Bio Industry Grew 6.9 Percent, Employs Nearly 6,400
West Virginia Organizations Participated in the BIO International Convention in San Diego June 23-26
West Virginia’s statewide bioscience industry grew 6.9 percent – employing nearly 6,400 workers – since 2007, according to a new study by Battelle and the Biotechnology Industry Organization (BIO) reporting national and state statistics for the bioscience industry in the U.S.
The “Battelle/BIO State Bioscience Jobs, Investments and Innovation 2014” report was announced during a news conference on June 24 during the BIO International Convention taking place in San Diego.
According to the section of the report dealing with West Virginia:
- West Virginia’s bioscience industry employed nearly 6,400 in 2012 across 343 business establishments.
- The industry [in West Virginia) has increased its employment base by 6.9 percent since 2007, a period which includes the deep national recession and early years of the recovery.
- Drugs and pharmaceuticals, the state’s largest and most specialized industry subsector, helped drive these overall gains with 73 percent job growth since 2007.
- Employment in drugs and pharmaceuticals in West Virginia is considered to be specialized and is 98 percent more concentrated in the state economy relative to the national average.
- Annual wages for state bioscience workers are nearly $70,000, on average, and are 78 percent more than the overall private sector average.
- State patenting in the biosciences totaled 143 patents issued from 2009 through 2013 with a focus in surgical and medical instruments and in drugs and pharmaceuticals.
Bryan Brown, executive director of the West Virginia Bioscience Association, said, “This is great news that reflects the growing culture of innovation and entrepreneurism in our state, as well as the increased focus on bio-related research and development by our research universities, like West Virginia University and Marshall University, among others.”
West Virginia’s bioscience industry was on display at the 2014 BIO International Convention, taking place at the San Diego Convention Center in San Diego, California June 23-26.
The BIO International Convention is the largest annual event for the biotechnology industry, attracting an audience of more than 15,000 biotech business leaders, scientists, executives and investors from around the world.
Brown said, “Not only is the West Virginia Pavilion highlighting the outstanding bioscience companies operating in West Virginia and the cutting-edge biomedical research underway at our universities, we are also showcasing all the state has to offer in terms of quality of life and increased business competitiveness. We hope our participation will help to attract new entrepreneurs, inventors, researchers, investors and businesses to West Virginia.”
State companies and organizations exhibiting or represented at the event include: Vandalia Research, Cordgenics, Cherso LLC, Protea Biosciences, West Virginia University, Marshall University, and Bio West Virginia.
“Our partners will hold numerous meetings throughout the week with prospective customers, collaborators and investors. This is a premier networking opportunity for the state and we appreciate the support provided by the West Virginia Development Office and the Claude Worthington Benedum Foundation,” Brown said.