The Economic Impact of South Carolina's life science industry : a statewide and regional analysis

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Authors
South Carolina Department of Commerce
Von Nessen, Joseph C.
South Carolina Biotechnology Industry Organization
South Carolina Research Authority
Issue Date
2017-05
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Text
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Life sciences--Economic aspects--South Carolina , Medical care--Economic aspects--South Carolina , South Carolina--Economic conditions
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Abstract
The annual economic impact of the life science industry on the state of South Carolina totals approximately $11.4 billion in total economic output. The life science industry supports a significant demand for high-wage, high-skill jobs in various STEM fields. The life science industry in South Carolina currently consists of approximately 15,012 employees across 402 firms. South Carolina’s life science industry has been one of the fastest growing sectors over the past decade and has been a major contributor to the state’s current economic expansion. Since 2005, annual employment growth within the life science industry has averaged approximately 1.7 percent, which is more than twice that of the state as a whole over the same time period (0.8%).
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South Carolina State Library
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Copyright status undetermined. For more information contact, South Carolina State Library, 1500 Senate Street, Columbia, South Carolina 29201.
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