The Biotechnology Innovation Organization (BIO) and the Council of State Bioscience Associations (CSBA) today released new data on the bioscience industry in the United States.The new report, The U.S. Bioscience Industry: Fostering Innovation and Driving America’s Economy Forward, examines the bioscience industry’s economic performance and its footprint across the nation and individual states during the COVID-19 pandemic.Some key takeaways:The nation’s bioscience industry employed 2.1 million employees across more than 127,000 U.S. business establishments in 2021.As the overall economy shed 1.5% of it’s job base, the biosciences industry increased employment by 11% since 2018.In total, the bioscience industry’s economic impact on the U.S. economy amounted to $2.9 trillion dollars in 2021, as measured by overall output.Biotech companies – especially small – and mid-sized – undertook a monumental effort to develop COVID-19 vaccines and therapeutics; there are 747 novel compounds in development currently.“This data highlights the vital role U.S. bioscience companies have in creating jobs and stimulating the economy. The report further shows the industry’s enormous role in navigating the COVID-19 pandemic, both in terms of getting life-saving therapies and vaccines to patients, as well as economic recovery,” said Pete Pellerito, BIO Senior Policy Adviser for Federal and State Economic Development and Technology Transfer Initiatives.“Even during the pandemic, bioscience employment grew as other industrial sectors faltered. Looking forward, the industry will continue to play a critical role, not only in addressing global health challenges but in helping to grow the U.S. economy by generating high-quality jobs,” said Ryan Helwig, Principal and Project Director with TEConomy Partners.The state-by-state industry assessment is the tenth in a biennial series, developed in partnership by TEConomy Partners and BIO, and studies the state of the U.S. bioscience…