Investing in America’s Biopharmaceutical Infrastructure Strengthens the Economy and Supports Union Workers
The biopharmaceutical industry is growing America’s manufacturing and R&D capabilities to develop the next generation of treatments. A recent study from PILMA quantified the impact of the industry’s investment in American infrastructure on the economy and union workforce across 18 states from 2019-2024.
The study found that across the 18 states included, the biopharmaceutical industry:
- Supported the American economy by investing $86.5B in R&D and manufacturing infrastructure and developing 1000+ construction projects at over 700 distinct facilities.
- Strengthened the American workforce by generating $2.6B in skilled union wages and providing $19M in support for union apprenticeships.
The impact of the biopharmaceutical industry’s investment in American manufacturing and union jobs extends beyond direct benefits, spurring additional economic activity in the communities where workers live. This is known as the multiplier effect.
- On average, every $1 of new investment in a U.S. biopharmaceutical manufacturing facilities generates an additional $1.59 in further economic activity (2.59x times the initial investment value).
- The industry’s $86.5B investment in R&D and manufacturing infrastructure has a total economic impact of $224B.
Check out this resource to learn more about how biopharmaceutical investment in American infrastructure supports America’s workers and communities. For more on how biopharmaceutical companies are investing in America’s future, visit innovation.org/america-investment.
