Life Sciences Workforce, Wages Increase

Posted: Updated:
BioCrossroads says 2018 was a record-breaking year for venture capital investment in the sector. BioCrossroads says 2018 was a record-breaking year for venture capital investment in the sector.
INDIANAPOLIS -

Indiana's life sciences initiative is boasting a strong 2018 for the sector, reporting year-over-year increases in areas including workforce, wages, exports and venture capital funding. BioCrossroads says the state's life sciences industry's economic impact is now at $79 billion. The report shows the sector supports more than 56,000 jobs in the state with an average annual wage of over $97,000. Vice President of Communications Lori LeRoy says Indiana "maintains (its) standing as one of the top five states in the life sciences."

LeRoy says 2018 was a record-breaking year for venture capital investment in the sector. She says 34 startups attracted $115 million in investment. The report also highlights other big funding developments: BioCrossroads launching its third seed fund installment and Elanco spinning out from Eli Lilly and Co. (NYSE: LLY) through an initial public offering.

The organization is also reporting more than $10.2 billion in life sciences exports from Indiana last year, which it says ranks Indiana second in the United States. The Indiana Biosciences Research Center says 85 new products from Indiana gained approval from the U.S. Food and Drug Administration.

Another highlight for the state came in January, when the IBRI said a collaborative research project it was involved in led to the discovery of a new disease. DHPC Deficiency can lead to neurodevelopmental delay and seizures.

You can see the BioCrossroads 2018 Annual Report by clicking here.

LeRoy says 2018 was a record-breaking year for venture capital investment in the sector. 
  • Perspectives

    • Take Time to Face Reality

      When is the last time that you as a business owner truly stopped for 30 minutes or an hour and truly took some quiet time to reflect on your business? Like most owners, it’s probably been quite some time. We all get busy doing things, working hard, taking care of customers, running the business. But if we don’t take some time each day, week, month or quarter to slow down, we are setting ourselves up for failure. Business leaders and owners need the time to slow down to...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (Image provided by the Capital Improvement Board.)

      Indy Alters Plans for Downtown Hotels

      The city of Indianapolis has announced plans to change the framework for a major project in downtown Indy that has sparked controversy. The $120 million project, announced in October 2018, calls for an expansion of the Indiana Convention Center and two new hotels at Pan Am Plaza, which would add about 1,400 rooms. The project has drawn criticism from a group of hoteliers, who have expressed concern of a potential oversaturation in downtown Indy. Indianapolis Mayor Joe Hogsett issued...

    • (photo courtesy Butler University)

      'Banner Year' for Butler Fundraising

      Butler University is celebrating what it calls a ‘banner year’ for its fundraising efforts. As Fiscal Year 2019 ended, the university had received $41.4 million from 15,823 donors. Butler says it was the second-highest fundraising total over the past decade. “This level of generosity demonstrates the incredible loyalty of our alumni, faculty, staff, and community, and the commitment we share to advancing Butler’s mission of providing the highest quality liberal...

    • Bank of America Merrill Lynch Adds Mar

      Bank of America Merrill Lynch has named Lucia Mar as senior vice president and the newly created position of Indiana market executive for Global Commercial Banking. She most recently served as market manager for the Greater Tennessee market in business banking. Prior to becoming a market manager, Mar was a senior relationship manager with the healthcare and institutions team.

    • Ostojic earned a $1,000 college scholarship as part of the award.

      Munster Teen With 2 Patents & Forbes Ranking, Earns Governor STEM Award

      A quick glance at Annie Ostojic’s Facebook page is evidence that she isn’t your average teenager—it sings of impressive scientific conquests: pictures of her when she was named to Forbes 30 Under 30 (when she was only 15), World’s 50 Smartest Teens, and shows Ostojic under the spotlight, presenting centerstage at national conferences. 

    • (Image courtesy of State Farm)

      State Farm Center Closure, Layoffs Coming Soon

      Illinois-based State Farm Mutual Automobile Insurance Co. is detailing plans to close its operations center on the north side of Indianapolis. In a notice to the state, the company says it will lay off nearly 100 employees at the end of August.