ABOUT ALABAMA'S BIOTECH INDUSTRY

The economic impact of the bioscience industry to the state of Alabama is $7.3 BILLION

As part of our efforts to promote the biotech industry around the state, BIO Alabama commissioned an industry economic impact study to gain insight into the impact our industry makes on Alabama’s economy and job creation. The study was performed by the Culverhouse College of Business at the University of Alabama and was completed in April 2018.

Download 2018 Economic Impact Report 

The bioscience industry in Alabama by the numbers

The Events Committee oversees the planning and execution of the BIO Alabama annual meeting, networking receptions, and other events on topics and issues of interest to the organization’s membership, including providing support program/presentation development, speaker/participant recruitment, invite lists, and more.

• 780 bioscience companies
• 48,000 direct and indirect jobs
• $68K Average salary (46% above average Alabama Salary)
• $2.3 Billion Payroll
• $161 Million Payroll taxes
• $101 Million in venture capital since 2012
• $1.3 Billion NIH Funding
• 1.9% of Alabama’s GDP

“The impacts, productivity, and high wages of BIO Alabama industries indicate that investing in bioscience is prudent and must remain an essential part of the state’s economic development strategy.”

- Economic and Fiscal Impacts of BIO Alabama, Culverhouse College of Business, University of Alabama, April 2018