While the industry took a big hit during the Great Recession, things are beginning to look up once again.
On a national scale, The Fresno Bee had this to say about the job market in this industry:
“Nationally, bioscience companies employed 1.6 million workers in 2012, up by nearly 111,000 from 2001, according to a report by Battelle and the Biotechnology Industry Organization. The jobs pay well: In 2012, the industry-wide average annual salary for bioscience workers was $88,202, or nearly $40,000 more than for the average private-sector worker.”
Connecticut is hoping to attract a larger number of bioscience companies and employees in an attempt to make up for the loss of thousands of high paid manufacturing jobs.
Due to the targeted nature of these jobs, employment in the bioscience industry is lucrative, with many openings paying in excess of $100,000 per year.
As of late, the state’s plan has been spot on. For example, state officials recently attracted Maine-based Jackson Laboratory. Along with this, Connecticut is promoting “economic development initiatives backing Mount Sinai’s genomics research center in Branford and research and clinical work in bioscience at the University of Connecticut Health Center.”
In an overall sense, the biotech industry in the United States is poised for more growth in the months and years to come. This will be fueled by many states, such as Connecticut, that are putting a lot of time, money, and resources into growth.