TEConomy Partners, a global research firm focusing on analysis and strategy for innovation-driven economic development, and the Biotechnology Innovation Organization have released the 10th biennial report on the economic footprint of the U.S. bioscience industry. The report breaks down the latest trends and information for the nation, states and metropolitan areas.
According to the report, Iowa’s bioscience industry is among the most specialized in concentration of industry employment. The industry in Iowa is 21% more concentrated relative to the national average. The state has a specialized employment base in two of the five major bioscience subsectors: agricultural feedstock and industrial biosciences and bioscience-related distribution.
Iowa’s employment base in the industry has grown 2% since 2018, to 26,649 jobs across 1,800 businesses. Four of the five bioscience subsectors contributed to the growth.
The state’s research universities conducted nearly $554 million in bioscience-related research and development in 2020, which translates into an above-average concentration on a per capita basis, the report said.
Venture capital investments in Iowa bioscience companies increased significantly in 2021 with $51.9 million invested, up from $14.6 million in 2020.
The Iowa report is available at this link, and the full report is available at this link.
