What is Happening to California's Biomedical Industry?
The sector is losing jobs, however California accounts for more than 28% of the country's biotechnology pipeline.
It's been twenty years of solid employment growth in the biomedical field in California, but from 2008 until 2011 6,300 jobs (2.3%) were lost, according to a new study published last week by the Healthcare Institute, BayBio and PwC US.
The downturn is due to a number of factors including; financial situation causing layoffs, 'lure of scientists, researchers and facilities outside of California' and decreased funding due to an uncertain regulatory environment.
Employment in the academic research sector was hit hardest, suffering a net decline of 3,121 jobs between March 2008 and March 2011, as state cutbacks in funding for higher education affected the research mission of California’s universities and competition increased for California's research talent.
The San Francisco Bay area continues to command the highest number of biomedical industry employees in California, but San Diego County and Orange County are the only areas where biomedical employment increased in 2010, by 14% and 9% respectively.
"California's biomedical industry embodies the state’s distinguishing strengths, and there have been enormous investments of time, energy and money in building it," said Gail Maderis, CEO of BayBio. "Yet we're at a crossroads, and we’ll need to continue to work together -- industry and policymakers -- to address the challenges to innovation and productivity the industry now faces."