National Employment and Salary Trends: In 2010 there were approximately 1.6 million people in the U.S. working in bioscience-based jobs, taking home an average salary of $82,697, according to a recent report Battelle produced for the Biotechnology Industry Organization. The biotech industry wages are 79 percent higher than the average private sector job in the U.S.
Economic Impact of Biotech in Illinois
- $98.6 Billion in Economic Output
- $52.4 Direct
- $46.2 Indirect/Induced
- 81,000 Direct Jobs
- 288,000 Indirect/Induced, for a total of 369,000
- 3,572 Illinois Biotech Companies
- Nearly $2.9 Billion in Total State and Local Tax Revenue
- $1.1 Billion Direct
- $1.8 Indirect/Induced
Centers of Employment
The Midwest Supercluster of Illinois, Indiana, Wisconsin, Michigan, and Minnesota is the 4th largest biopharmaceutical market globally. Of this, Lake and Cook employ the most people in the biotech sector, with a little over 300,000 people between the two counties. These also happen to be the two counties that are closest to Northwestern’s campuses.