Massachusetts By The Numbers

Funding & Capital

Massachusetts receives vast amounts of federal grants that advance the biotechnology industry. The Commonwealth has received 10% or more of annual NIH funds since 2005 and consistently ranks #1 in NIH funding per capita. Massachusetts has also received over 13% of national SBIR funding since 2003, and ranked #1 in SBIR funding per worker in 2006.

2006 NIH Funding per Biotech Employee

Massachusetts is home to the top 5 NIH funded hospitals*:

  1. Massachusetts General Hospital
  2. Brigham and Women's Hospital
  3. Dana-Farber Cancer Institute
  4. Beth Israel Deaconess Medical Center
  5. Children's Hospital Boston

*National Institutes of Health, 2006

The hospitals in the Greater Boston Region alone sustained more than 8,000 research jobs in 2005 (PWC Report, 2007).

Venture Capital

Massachusetts is a hub for biotechnology investment. In 2006, Massachusetts venture capitalists invested almost $760 million (PwC MoneyTree Report, 2006) in biotechnology companies, comprising 18% of biotechnology venture capital investment in the United States.

Venture Capital Investment

Workforce

For every biopharmaceutical manufacturing job created, five additional supporting jobs are created in other industries (Northeastern University Labor Market Study, 2007)

There are 42,917 biotechnology employees in Massachusetts. They earn an average salary of more than $100,000 and are responsible for over $5 billion of in-state payroll (US Census Bureau, 2005)

Growth of Biotech Employement in Massachusetts

Educated

In 2005, Massachusetts' 122 colleges & universities awarded over 4,500 degrees/certificates in biotechnology related fields of study.

Percentage of Adult Population with BA or Higher

Massachusetts ranks #2 in post-secondary education degrees per capita of the 50 states (National Center for Education Statistics, 2006).

Industry Strength

There are more than 400 biotechnology companies located in MA (MBC, 2007); 235 companies are developing therapeutic drugs (BioPharm Insight, 2007).

1,827 drugs are being developed in Massachusetts, representing over 7% of the global drug pipeline (BioPharm Insight, 2007)

21 of the top 50 biopharmaceutical companies by revenue have a Massachusetts presence averaging $21 billion each over the past year. (BioPharm Insight, 2007)