By: Deborah Johnson Wood
A study released by University of Michigan’s Institute for Research on Labor, Employment, and the Economy says that nearly 100,000 Michigan jobs are due to the state’s private and public investments in biosciences. And those jobs pay much higher wages.
On the average, private bioscience jobs pay a premium wage of nearly $74,000—over 70 percent higher than the average wage of all private sector workers.
The study, The Contribution of the Bioscience Industry to the Economy of Michigan Final Report, was prepared for Pharmaceutical Research and Manufacturers of America.
Findings include:
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Private bioscience companies paid out wages of some $2.5 billion in 2007.
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Direct bioscience plus spin-off earnings are nearly $6.36 billion, representing $24 of every $1,000 earned in Michigan.
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64 Michigan counties have direct bioscience employment; 56 of them show a bioscience wage premium of $1.20 to $2.45 per hour.
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Direct bioscience employment (industry, academic) plus spin-off employment created 98,807 jobs in Michigan—18 of every 1,000 jobs in the state.
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Universities invested $897 million in life science research in 2007.
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Between 2002 and 2007, Michigan bioscience employment declined by 10.5 percent; U.S. employment grew by 5.2 percent. Much of the decline is due to the state’s inability to keep up with manufacturing in pharmaceuticals and medical equipment.
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Unlike other states, Michigan has assets available to grow the industry: automotive manufacturing diversification, major research universities and initiatives including the
Technology Tri-Corridor Program.
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The top ten counties for bioscience employment (businesses) are: Wayne (7,717), Washtenaw (5,374), Kalamazoo (5,344),), Oakland (4,925), Ingham (3,414), Kent (1,899), Macomb (1,720), Allegan (1,256), Ottawa (814), and Saginaw (753).
The study states:
“…Michigan has the assets to support and grow activities associated with bioscience… the industry has the potential to be one of the drivers in the future economic development of the region. The identification and nurturing of such economic drivers is critical to a state economy that finds itself in such dire straits.” (page 2)
Source: The Contribution of the Bioscience Industry to the Economy of Michigan Final Report
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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