Biosciences Industry Growth Boosts Buffalo Niagara Economy, Report Finds
Thursday, September 18, 2014
Source: The Buffalo News
Employment in the biosciences sector is growing at a faster clip in Western New York than in Upstate New York and the state as a whole, fueled by strong performance locally in the areas of biomedical research, medical testing and drug distribution, an economic-impact analysis by an industry trade group found.
The industry employs more than 7,400 people in the region, up 4 percent over the most recent five-year period, and supports more than 77,000 jobs here, producing a $5.6 billion total economic impact, according to the MedTech Association’s 2014 Bio/Med Industry Report.