When your state is home to big names like Abbott, AbbVie, Baxter and Medline, your reputation as a global life sciences leader is secure.
But Illinois is not content to just play it safe and remain secure. Advances in medical research made possible by significant corporate and institutional investments are propelling the state to even greater heights in life sciences.
Consider the following recent investments:
These investments are happening because Illinois has the fundamental assets to attract R&D and manufacturing in the life sciences. For example, the state ranks No. 8 for research expenditures in science and engineering, and Illinois has more than 100 biopharma companies that are growing. Meanwhile, the Illinois Medical District ranks as one of the largest urban medical districts in the country, and more than 22,700 workers are employed in scientific research and development in the state.
Altogether, about 964 establishments statewide are engaged in life sciences work and employ personnel at an average annual wage of $121,579.
According to a recent article in BioSpace, Chicago now ranks as one of the eight best cities in the U.S. for biotech employment. “The city is witnessing a substantial increase in early-stage life sciences companies, called biotech startups,” the report states. “Most of these startups stemmed from high-end universities like the University of Chicago and Northwestern University, proving themselves as some of the country’s most impressive life sciences newbies. Also, Chicago boasts its strength as a leader in the biotechnology sector, which gained 1,423 jobs and added four companies between 2015 and 2016. The city also received over $738 million in National Institutes of Health grant funding in 2016.”