Governor Inslee’s top priority is to create an economic climate where innovation and entrepreneurship can continue to thrive and create well-paying jobs in every corner of our state. The Washington State Life Science and Global Health sector is a leader amongst its peers. This sector is comprised of world class research institutions, motivated and talented entrepreneurs and well-established organizations that are recognized for their breakthrough discoveries.
How do we define Washington's Life Science and Global Health sector
The sector is made up of 191 biopharma companies, 294 medical device companies and 78 non-profit research institutions. Over 70 Washington cities host life science companies, research institutions and non-profit organizations, and they have a presence in the health of individuals and communities worldwide.
Sector Impacts on Washington's Economy
The Life Science and Global Health sector is responsible for $11.1 billion of the state’s gross domestic product (GDP). Employment in this sector tops 34,000 direct jobs and another 57,000 indirect jobs, making it the 5th largest employment sector in the state. Employment in this sector continued to grow during the recession.
What's next for Washington's Life Science and Global Health sector
Results Washington outlines two shared cross sector goals for the following sectors: clean energy, agriculture, military, aerospace, life science/global health, information and communication technology, maritime and advanced manufacturing. Those goals are:
- Increase gross business income from $646 billion in 2012 to $749 billion
- Increase the number of jobs in state by 150,000
In order to achieve the two goals outlined above, the Director of Economic Development for the Life Science and Global Health sector works with stakeholders across the state to advance the following 7 strategies that will influence our ability to achieve our shared goals.
Those strategies are:
- Retain Washington State companies and organizations
- Recruit companies and organizations to Washington State
- Attract and retain nationally ranked researchers to Washington State
- Increase capital investment in the Life Science and Global Health sector
- Increase awareness and support for start-up companies
- Increase STEM related degrees obtained from our universities
- Increase federal research dollars obtained by Washington State research institutions
Are you interested in business opportunities in the Life Science/Global Health sector? Visit ChooseWashington.com to learn more.
Communication and Coordination
Through coordinated stakeholder engagement and action, we will have an opportunity to make significant progress in building our Life Science and Global Health sector. This will not be a “one-size fits all” approach as the needs of the sector vary from drug to device to global health organization. Additionally, the needs of each community hosting the sector vary from urban to rural. The goal of the Life Science and Global Health Sector Lead is to represent the needs of the entire community.