The Economic Impact of the Arizona Biosciences Sector

The Economic Impact of the Arizona Biosciences Sector Walter H. Plosila, Ph.D. Senior Advisor Battelle’s Technology Partnership Practice April 7, 2009

Assessing the Economic Impact of the Biosciences in Arizona ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Economic Impact Methodology ,[object Object],[object Object],[object Object],[object Object],[object Object]

Data and Projections ,[object Object],[object Object],[object Object],[object Object],[object Object]

The bioscience sector has become a key contributor to Arizona’s economy ,[object Object],[object Object],[object Object],Source: Battelle TPP and IMPLAN The Economic Contribution of the Entire Biosciences Sector Including the Non-Hospital Bioscience Sector, Hospitals and Academic Research To the Arizona Economy in 2007 ($ in millions; current 2007) Item Direct Impact Indirect Impact Induced impact Total Impact Output $12,539.3 $4,286.8 $4,359.0 $21,185.0 Employment 87,417 31,136 37,079 155,631 Employee Compensation $5,327.5 $1,239.9 $1,262.8 $7,830.2 State and Local Tax Revenues – – – $765.7

The bioscience sector grew significantly during the last 6 years and as a result annual economic impact has soared ,[object Object],[object Object],[object Object],Source: Battelle TPP and IMPLAN Total and Percent Change in Direct and Total Impacts of the Entire Bioscience Sector, 2002 - 2007 ($ in millions) Item Direct Impact 2002 Direct Impact 2007 % Change 2002 - 2007 Total Impact 2002 Total impact 2007 % Change 2002 - 2007 Output $7,975.7 $12,539.3 57.2% $14,451.2 $21,185.0 46.6% Employment 72,855 87,417 20.0% 140,654 155,631 10.6% Employee Compensation $3,203.6 $5,327.5 66.3% $5,176.6 $7,830.2 51.3% State and Local Tax Revenues – – $566.9 $765.7 35.1%

The non-hospital bioscience sector was the growth driver for the last 6 years ,[object Object],[object Object],[object Object],Source: Battelle TPP and IMPLAN Total and Percent Change in Direct and Total Impacts of the Non-Hospital Bioscience Sector, 2002 - 2007 ($ in millions) Item Direct Impact 2002 Direct Impact 2007 % Change 2002 - 2007 Total Impact 2002 Total impact 2007 % Change 2002 - 2007 Output $2,147.3 $3,641.2 69.6% $3,615.3 $5,842.8 61.6% Employment 10,895 13,543 24.3% 25,231 29,671 17.6% Employee Compensation $494.1 $777.8 57.4% $949.5 $1,445.9 52.3% State and Local Tax Revenues – – $132.5 $177.8 34.2%

The hospital sector also grew significantly during the last 6 years ,[object Object],[object Object],[object Object],Source: Battelle TPP and IMPLAN Total and Percent Change in Direct and Total Impacts of the Hospital Sector, 2002 - 2007 ($ in millions) Item Direct Impact 2002 Direct Impact 2007 % Change 2002 - 2007 Total Impact 2002 Total impact 2007 % Change 2002 - 2007 Output $5,537.7 $8,482.9 53.2% $10,251.0 $14,568.8 42.1% Employment 57,410 70,691 23.1% 107,716 119,745 11.2% Employee Compensation $2,522.6 $4,354.9 72.6% $3,949.2 $6,077.6 53.9% State and Local Tax Revenues – – $409.1 $561.6 37.3%

Projecting future growth levels is challenging ,[object Object],[object Object],Optimal projections show what could happen if the goals of the Roadmap are attained, not what will happen . They are predicated on continued support and investment in the biosciences by the state as well as national and local economic conditions

Significant growth is projected during the 2007 – 2020 time period if the goals of the Arizona Bioscience Roadmap are attained ,[object Object],[object Object],[object Object],Source: Battelle TPP and IMPLAN The Economic Contribution of the Entire Biosciences Sector Including the Non-Hospital Bioscience Sector, Hospitals and Academic Research To the Arizona Economy in 2020 ($ in millions; current 2007) Item Direct Impact Indirect Impact Induced impact Total Impact Output $20,298.0 $6,901.8 $7,082.0 34,281.8 Employment 142,018 50,419 60,239 252,676 Employee Compensation $8,630.6 $2,009.3 $2,052.2 $12,692.1 State and Local Tax Revenues – – – $1,238.7

Proposed Process for Reassessing Bioscience Roadmap Economic Assumptions ,[object Object],[object Object],[object Object],[object Object],[object Object]

Impact by Bioscience Sector Area 2007

2020 Growth Assumptions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Economic Impact of the Arizona Biosciences Sector

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