Advance

Pennsylvania is a National Leader in the Life Sciences Industry

Pennsylvania is a national leader in the life science industry and home to a cohesive community that unites biotechnology, medical device and diagnostics, pharmaceuticals, research institutions and holds significant financial strength.

The new model of the life science industry and evolving landscape present opportunities to link scientists, entrepreneurs, funding, programs, and policy makers in creating solutions and policies that will grow and sustain the innovation infrastructure; launching new companies and creating jobs that have significant impact to human health globally.

PA Life Sciences Industry Overview

Pennsylvania’s Life Science Industry Overview 

Total Life Science Industry 

  • 77,000 employees
  • 459, 720 total employment impact (5.8 national multiplier)
  • 2,309 establishments
  • $7 billion in total wages
  • $1.565 million in Venture Capital Funding – Ranked #4 in the nation
  • $1.5 billion NIH funding for Pennsylvania research projects
  • Ranked 5th nationally for clinical trials
    • Almost 2,000 trials in 2013 with $401 million in investment and a $1 billion economic impact
  • 6,754 patents from 2012-2015
    • Ranked 4th in the nation

 

Greater Philadelphia Region

  • 42,000 working in core life science jobs
  • 1,200 establishments (92 with 100+ employees)
  • 5th largest R&D hub in the nation with $10.5 billion annually in R&D
  • 270 contract research organizations (CRO)

 

Greater Pittsburgh Region

  • $700 million spent annually in life sciences R&D
  • University of Pittsburgh ranked #5 nationally in R&D spending
  • More than 10,000 working in core life science jobs

 

NIH Funding: ~ $1.5 billion

 

Two Pennsylvania universities are in the top 5 nationally

  • #4 University of Pennsylvania
  • #5 University of Pittsburgh

 

Keystone State Advantages 

  • 40% of the U.S. population is within 500 miles of Pennsylvania
  • Greater Philadelphia is 1.5 hours from New York City (major capital markets)
  • Greater Philadelphia is less than 2 hours from Washington DC (NIH & FDA)
  • 42% of workforce aged 25-44 have post-secondary degrees
  • Highly talented life science workforce
  • Pennsylvania leads the Mid-Atlantic states in number of Science Technology Engineering Math (STEM) credentials awarded
  • 4th in life science related patents

 

Important Programs & Tax Credits for the Life Sciences Industry

  • Keystone Opportunity Zone – State & local tax sheltered business zones
    • Example: Philadelphia Navy Yard
  • Keystone Innovation Zone – Provides tax credits for companies in targeted zones
  • Research and Development Tax Credit – Tax credit for increase spending on R&D ($55 million annual credit available)
  • Discovered and Developed in PA Program (D2PA) – Provides seed funding for innovative ideas involving entrepreneurship, technology transfer, business outreach and increased capacity
  • Pennsylvania First Program – Comprehensive funding tool to facilitate increased investment and job creation within the Commonwealth
  • Redevelopment Assistance Capital Program – Commonwealth grant program. $125 million available annually through a competitive application process
  • Innovate in Pennsylvania – A new program to provide funding to life science related organizations. $80 million in new funding by 2015

 
 
Do You Receive LSPA E-Mail?
Sign Up to Receive Events, Policy and Executive Updates
Your Information will never be shared with any third party.
Are You an LSPA Member?
Sign Up for a Life Sciences Future Planning Committee!
Your Information will never be shared with any third party.