Life sciences job growth in California is outpacing gains in the industry across the U.S., GEN {Genetic Engineering & Biotechnology News – spell out} reported.
According to a recent report by the California Life Sciences Association and Pricewaterhouse Coopers, 2.3 percent more people were employed by California companies and nonprofit institutions involved with life sciences in 2015 compared to the year prior. And 1.7 percent more people were working in biopharmaceutical employment in the state during the same time frame.
The number of life sciences companies calling the Golden State home has also been on the rise, with the report finding that there were 1,326 biotechnology and pharmaceutical companies in California in 2015. This is a 12 percent increase from the number in 2014.
Investment in life science research and innovation in California has also been increasing. The report revealed that the state received 39 percent of the total $4.1 billion in digital health venture capital investments contributed nationwide, with California garnering $1.6 billion from the firms.
In reflection of the growth of the life science industry in California, the San Francisco Planning Commission received a proposal for the construction of a boutique biotech hotel, The San Mateo Daily Journal reported. The complex would feature between 340 and 360 condominiums and 400,000 square feet of research space that area life sciences companies can use.
The CLSA report found that San Francisco Bay had the largest amount of life sciences jobs in the state, at 68,313 positions, GEN detailed.