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New York's Bioscience Industry* (Willoughby, Kelvin. New York's Evolving
Bioscience Technology Industries. July 1997.)
Comprised of more than 273 biotechnology, pharmaceutical, life systems
and medical device firms, New York's bioscience industry makes a substantial
contribution to the economy of New York State. With an estimated market
value of over $45 billion in 1996, the industry generated $33 billion
in revenue, and pumped almost $12 billion into the economy during the
same time period.
The bioscience industry is distributed widely throughout New York State,
but tends to cluster in, or around, academic centers of excellence. One
hundred and forty bioscience industry firms are considered dedicated biotechnology
companies. This represents a 56% growth in the number of biotechnology
firms residing in the State in the five years between 1991 and 1996.
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employment by New York's bioscience technology firms was estimated
to be over 90,000 persons in 1997. The industry is largely characterized
by small firms, with nearly 70% of all bioscience industry firms
employing less than 50 persons. |
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Size Distribution
of New York's Bioscience-technology Industry Firms, 1996
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