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Hoosiers Work for Health Highlights Impact of Medical Research and Innovation on Indiana Economy
Date:3/26/2009

cting as a magnet for bioscience investment, biopharmaceutical companies in Indiana help transform our state and regional economy by drawing highly educated labor, attracting and enhancing research and educational institutions and industry.

  • Economic output represents the value of goods and services produced by the sector and its ripple effects. In 2006, the Indiana biopharmaceutical sector supported $22.7 billion in total output.
  • Direct biopharmaceutical wages in Indiana were estimated to be $1.4 billion in 2006, resulting in an estimated $350.3 million in federal taxes and $43.3 million in state taxes.
  • Biopharmaceutical companies supported a total of 89,763 jobs in Indiana in 2006 - 15,306 directly in the sector and 74,457 in other sectors.

"Despite an extremely difficult economic environment, the life sciences industry remains a valuable component to Indiana's economy through its contribution of highly skilled and high-paying jobs, indirect job creation, and significant expenditure on the research and development that fosters innovation," said John C. Lechleiter, Ph.D., chairman, president and CEO Eli Lilly and Company. "Just as important, Indiana's life sciences industry is making a difference for Hoosiers and for people worldwide, helping them to live better, more productive, and longer lives."

Lechleiter added, "As citizens in these challenging times, we need to encourage our political leaders to fix what is broken - but we also need to make sure we don't break what still works. Today, innovation in the life sciences is one of those things that still works."

A separate analysis by PhRMA, the results of which were released simultaneously, found that domestic research and development investment by PhRMA members accounted for roughly 70 percent of all R&D spending in 2008. The survey
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SOURCE Hoosiers Work for Health
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