The Ohio Bioscience Report
The Ohio Bioscience Report
2022 marks BioOhio’s 35th anniversary as the state’s bioscience organization and a reliable, objective source of information centered on the bioscience community in Ohio. The Ohio Bioscience Report is published by BioOhio to inform the public on the progress of Ohio’s bioscience fields: Agricultural Biotechnology • Medical & Testing Labs • Medical Devices & Equipment • Medical Product Distribution • Pharmaceuticals & Therapeutics • Research & Development (learn more).
The comprehensive scope of this report makes it an essential tool for Ohio’s bioscience business leaders, educators, and economic development professionals and serves as a benchmark for local, state, and federal lawmakers. This report is also a valuable resource for anyone interested in learning more about bioscience. The following are key findings and links to download the full report and a 2-page summary.
Ohio bioscience companies attracted $3.5 billion in funding in 2021. Institutional, award-based funding avenues such as federal grant programs, private foundations, and grant-making organizations have long been a valuable funding resource for Ohio’s bioscience organizations. In the private investment sector, strong company growth has been driven by angel investors, venture funding, capital from investor exits, and events such as public offerings and strategic corporate acquisitions.
Bioscience firms employ nearly 83,700 Ohioans at companies ranging from well-known brands such as Abbott, AstraZeneca, Battelle, Cardinal Health, Johnson & Johnson, NuVasive, and Quidel, to new and growing companies including Alkermes, AmplifyBio, Andelyn Biosciences, AtriCure, Axogen, Clarametyx Biosciences, Enable Injections, Forge Biologics, and Lazurite. Looking at the past five years, employment has increased by 15% (10,905 jobs).
Ohio’s bioscience industry continues its strong history of innovation and discovery, with over 4,260 organizations manufacturing & distributing products, providing essential services, or researching the next breakthrough at more than 5,120 facilities around the state.
Ohio’s bioscience industry generated $7.1 billion in payroll in 2019, a 21% ($1.2B) increase in the last five years. Bioscience sector jobs in Ohio paid an average wage of $84,600, encompassing a wide variety of occupations. In comparison, the average wage for all industries in Ohio in 2019 was $50,502.
Projected New Jobs
Since 2020, through the challenges of the pandemic, Ohio bioscience companies announced investing $2 billion into new facilities and expansions expected to create over 7,350 new jobs.
American Nitrile, Amgen, AmerisourceBergen, AmplifyBio, Axuall, Charles River Laboratories, Expression Therapeutics, GOJO, McKesson, Sarepta Therapeutics, SPR Therapeutics, and STAQ Pharma are all among the many companies growing in Ohio.
Venture Capital Investment
Ohio bioscience-related companies announced $1.3 billion in private investment in 2021. This is the highest amount recorded since BioOhio began tracking deals in 2004. Digital Health led with $684 million, followed by Pharmaceuticals & Therapeutics raising $433 million, and Medical Devices finishing the year with $188 million.
Exits (acquisitions, licensing, public offerings) in the state remained strong in 2021, totaling $1.1 billion. The vast majority of companies receiving investment from outside of Ohio have remained in the state, including those receiving funding from coastal U.S. investors or foreign sources. The notion that investors will force companies to relocate is rebuffed by deal after deal resulting in the growth of Ohio-based operations, and an influx of ideas, support, and new jobs in the state.
• Bioscience in Ohio’s Six Regions
The bioscience industry’s economic impact is felt throughout the state, with bioscience-related companies found in 83 of 88 Ohio counties, and all six Ohio regions have experienced growth while playing a role in advancing critical discoveries.
Anchored by Cleveland and Akron, northeast Ohio led the state in the number of bioscience locations with 1,453, 28% of the statewide total. The central and southwest regions followed with 922 (18%) and 750 (15%), respectively. Other regions are well represented by 432 locations in western Ohio, 256 in northwest Ohio, and 178 in southeast Ohio. In terms of employees, northeast and central Ohio are closely aligned at 29% and 26% of the statewide total. Southwest Ohio led the remaining regions with 13,834 employees (17%).
• 11,179 Bioscience Degrees & Certificates Awarded in 2020
A skilled workforce is integral to the growth of Ohio’s bioscience industry. Ohio’s technical career centers and two-year, four-year, graduate, and advanced degree programs build on the foundation set by K-12 schools to deliver a workforce pipeline necessary to staff growing bioscience businesses.
Bioscience education continues to thrive in Ohio. In 2020, 11,179 bioscience-related degrees and certificates were awarded to students in Ohio, an increase of 65% since 2006. In 2020 there were 83 public and private schools furthering the capabilities of Ohio’s talented workforce.