STATEWIDE — Indiana’s life sciences sector is flying under the radar in making a huge economic impact throughout the state.
That’s according to a reports from BioCrossroads, who says Indiana life sciences companies have had an economic impact of over 79-billion-dollars, with 115-million invested in Indiana in 2018 alone.
The report also shows that life sciences companies account for over 56-thousand Hoosiers who are employed, receiving an average annual wage of 97-thousand-dollars a year. That wage is also rising, says Lori LeRoy with BioCrossroads to Inside Indiana Business.
“A lot of times we look at these statistics and we get excited,” LeRoy said. “Because we’ve got a lot of employees working with decent salaries, but the bottom line is what we are making in Indiana is reaching patients around the world.”
Life sciences companies focus on using biology, microbiology, and biochemistry to the benefit of people.
BioCrossroads says more than $10.2 billion in life sciences exports came from Indiana last year, which it says ranks Indiana second in the United States. The Indiana Biosciences Research Center says 85 new products from Indiana gained approval from the U.S. Food and Drug Administration.
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