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Daily Court Reporter - News Bioscience sector continues to grow in Ohio

 

Bioscience sector continues to grow in Ohio

BRANDON KLEIN, Daily Reporter Staff Writer

The bioscience industry in Ohio continues to grow, according to a new report.

There are 741 bioscience operations in Ohio today compared to 641 in 2011, according to Ohio Bioscience Growth Report published by BioOhio, the state's bioscience organization, last week.

The locations employed 22,145 employees as of 2016 with an average wage of $76,663 and payroll at $1.7 billion.

That's compared to the northeast Ohio region, which has 1,336 bioscience locations compared with 1,362 locations five years earlier - a decrease of 26 locations.

And the region's bioscience locations employed 22,662 people in 2016 with an average wage of $69,063 and payroll at $1.6 billion.

In total, Ohio had 4,165 bioscience locations operated by 3,336 companies in 2016, compared with 3,890 locations operated by 3,094 companies in 2011.

The economic sector employs 78,869 employees with an average wage of $73,897 and total payroll at $5.8 billion.

"From a national perspective, Ohio has earned the reputation for being a great place for bioscience companies to start, grow and mature. Small, medium, and large companies, universities, hospitals, and other organizations have found every ingredient for success within our state," said Bill Dunlevy, the chairman of BioOhio Board and vice president of sales and marketing for EG Industries.

The bioscience sector contributed significantly to Ohio's number of new business sites and expansions.

Last year, bioscience-related companies announced 46 projects that would create 5,278 jobs with capital expenditures of $632 million over the next several years if those projects were completed, according to the report.

Among the projects announced for central Ohio include InXite Health Systems' $1.8 million move to Columbus, which would create 100 jobs; PharmaForce' $145 million investment to add 80 new jobs and an additional 142,000 square feet at its Columbus facilities; and WestWard Pharmaceuticals' plans to add 95 jobs at the former Boehringer Ingelheim Roxane facility in Columbus and a warehouse site in Obetz.

In addition, there have been health care expansions throughout the state, including The Ohio State University's $14.3 million renovation of the former James Cancer Hospital in 2015; Nationwide Children's Hospital's $730 million expansion plan in Columbus for children with behavioral health conditions in 2016; and OhioHealth's 2016 announcement construction of a new $89 million headquarters next to Riverside Methodist Hospital, retaining 1,200 employees.

In total, expansion projects as of last year will lead to a projected 1,525 new jobs and $360 million in announced investment for central Ohio.

The medical product distribution was the leading subsector for the number of locations in central Ohio at 268.

But the research and development subsector swept the other remaining metrics such as leading employment with 7,472 workers, having a higher average wage of $89,853 in the region and a payroll of $671 million.

BioOhio represents more than 300 members that employ more than 100,000 members. It celebrated its 30th anniversary last year.

Date Published: May 22, 2018

 

Copyright © 2018 The Daily Reporter - All Rights Reserved

 

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