Munich Personal RePEc Archive

The economic impact of Biotechnology in New England

Allen, Thomas and Gabe, Todd (2003): The economic impact of Biotechnology in New England.

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Abstract

New England’s biotechnology industry is comprised of about 1,134 businesses, which employ a total of 94,107 workers. These establishments generated $21.0 billion in sales in 2002, which provided $7.2 billion in wages and salaries. When multiplier effects (i.e., indirect impacts) are included, the biotechnology industry contributed about $35.7 billion in output to the New England region. Through direct and indirect impacts on their respective state economies, the biotechnology establishments support a total of 221,390 jobs, which paid $13.0 billion in wages and salaries to workers across New England.

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