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The economic impact of Biotechnology in New England

Author

Listed:
  • Allen, Thomas
  • Gabe, Todd

Abstract

New England’s biotechnology industry is comprised of about 1,134 businesses, which employ a total of 94,107 workers. These establishments generated $21.0 billion in sales in 2002, which provided $7.2 billion in wages and salaries. When multiplier effects (i.e., indirect impacts) are included, the biotechnology industry contributed about $35.7 billion in output to the New England region. Through direct and indirect impacts on their respective state economies, the biotechnology establishments support a total of 221,390 jobs, which paid $13.0 billion in wages and salaries to workers across New England.

Suggested Citation

  • Allen, Thomas & Gabe, Todd, 2003. "The economic impact of Biotechnology in New England," MPRA Paper 65984, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:65984
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    File URL: https://mpra.ub.uni-muenchen.de/65984/1/MPRA_paper_65984.pdf
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    More about this item

    Keywords

    Biotechnology; Economic Impact; New England;
    All these keywords.

    JEL classification:

    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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