July 28, 2016
Over the past decade, Florida has built a robust life sciences industry, establishing itself as an industry hub with significant potential for continued innovation and growth. The life sciences have positively impacted our economy and have increased the number of high wage jobs in our state. Existing companies are expanding and new companies are locating to Florida. The industry’s breakthrough research is paving the way for tomorrow’s discoveries and improving the health and quality of life we enjoy. The development of this sector – much like the discovery of cures – takes time. The success cannot be determined in numbers alone. Its significance is also reflected in the positive impacts made on human well-being worldwide. The future of the industry in the state is bright with opportunity to continue to expand and leverage the current infrastructure to drive investment, scientific and business innovation and collaboration among both the private and public sector.
- Florida’s life science industry supports 83,000 direct jobs with 5,900 establishments located throughout the state 1
- Florida is home to world-renowned universities, state of the art medical centers, award-winning incubators and research parks, pioneering institutes and a mix of innovative start up and successful established companies.
- Florida is home to 10 percent of all biotech companies. 2*
- Florida’s life science industry average salary comes in at nearly double the state average at $78,000 and $44,000 respectively 1
- Florida ranks in the top quintile among all states for bioscience industry employment, establishments and number of patents 1
- There was more than $1.2 billion in bioscience-related R&D in 2014 1
- 4,900 patents have been issued to Florida inventors from 2012-2015 1
- Florida’s lifescience industry jobs growth has outpaced the nation since 2012 1
- Florida’s lifescience industry has grown its employment base by 4.9 percent since 2012 with double digit employment gains in both drugs and pharmaceuticals and medical device subsectors 1
- Nationally, lifescience employment grew 2.2 percent during the same period 1
- Florida’s growth in the number of life science establishments within each subsector of the bioscience industry has also outpaced the average growth rate for the nation since 2012. 1
- The number of total establishments has grown by 8% since 2012 , while the number of life science establishments across the nation has grown 6%. 1
- Drug and Pharmaceutical establishments grew by 16%, double the national average 1
- Medical Device and Equipment establishments grew by 18%, triple the national average 1
- Venture capital funding has grown significantly within the bioscience industry. Bioscience-related venture capital investment was $310 million in 2015– an increase of 66% relative to 2014. 1
- Florida continues to attract new companies while existing companies expand throughout the state. Recent examples include: Johnson & Johnson Vision Care, Inc., Johnson & Johnson Shared Services, Bristol-Myers Squibb, Lupin Pharmaceuticals, Inc., KLS Martin, Zimmer BioMet, Arthrex, NeoGenomics and SHL Pharma.
- Florida has recruited renowned scientists and established expertise in critical areas of unmet need, such as medical technology, oncology, ophthalmology, cardiology, cell therapy and regenerative medicine, marine biotechnology and neurodegenerative disease.
- Florida’s bioscience industry is developing breakthrough discoveries and therapies that have the ability to propel the industry and improve the quality of life for Americans across the country.
1 The Value of Bioscience Innovation in Growing Jobs and Improving Quality of Life - FLORIDA PROFILE (TEConomy/BIO, 2016)
2 State of the Industry Report (UF Sid Martin Florida BioDatabase, Fall 2015)
*The Florida BioDatabase defines a biotechnology company as one that uses modern biological techniques to develop products or services for human health care, animal health care, agricultural productivity, food processing, renewable resources, industrial manufacturing, and environmental management.
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