Life Sciences Yields $24.6B for Greater Philadelphia

$6.3B in investments are woven into economic fabric of the region

January 4, 2016 (Philadelphia, PA) — The Greater Philadelphia Region (GPR) is positioned to lead the next stage of disruption within the spectrum of Life Sciences disciplines, thanks to its world-renowned research institutions, top biomedical programs, and a healthy ecosystem of small and large enterprises and investment activity, a new study shows. Greater Philadelphia Life Sciences Report, the joint study by Ben Franklin, BioAdvance, CEO Council for Growth, the Chamber of Commerce for Greater Philadelphia, EY, Life Sciences PA, the Greater Philadelphia Alliance for Capital and Technology (PACT), Philadelphia Works, Select Greater Philadelphia Council, and the University City Science Center, in collaboration with IHS Markit, explores Greater Philadelphia’s Life Sciences footprint and investment activity over the last five years and details the key findings that characterize the sector’s evolution in the region.

As previewed at PACT’s Impact 2016 event in November, the Greater Philadelphia Life Sciences Report details investments in Life Sciences companies from 2011 through the first half of 2016 and explores how the payoffs from those investments have been woven into the economic fabric of the region. It speaks to how the long-standing and continued importance of Life Sciences in the region is producing a broad range of sustainable employment opportunities and is increasing the importance of this sector to our export profile.

Click here to read the full press release.


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