The (Garden) State of Life Sciences

Facts and figures• Employment: Compounded annual growth rate was 1.0% between 1990 and 2000-below the national average of 2.0%• Patents: 11.2 per 10,000 workers in 2000-above the national average of 7.5-but growth rate in the 1990s was 2.5% compared to 4.1% for the nation• Venture capital: Funding in 2002 was $106 per worker, slightly lower than the national average of $125• Fast-growth firms: NJ averaged 3.9% of all Inc500 fastest-growing firms between 1993–2002, c

Francesco Fiondella
Apr 11, 2004

Facts and figures

Employment: Compounded annual growth rate was 1.0% between 1990 and 2000-below the national average of 2.0%

Patents: 11.2 per 10,000 workers in 2000-above the national average of 7.5-but growth rate in the 1990s was 2.5% compared to 4.1% for the nation

Venture capital: Funding in 2002 was $106 per worker, slightly lower than the national average of $125

Fast-growth firms: NJ averaged 3.9% of all Inc500 fastest-growing firms between 1993–2002, compared to its share of 3.2% of nation's work force

Employment

Between 1990 and 2000, 5,403 net new jobs were added to the NJ life sciences industry. Some businesses fared better than others (each bar segment represents 1,000 jobs gained or lost):

Winners

Commercial phys./biol.research

Noncommercial research org.

Pharmaceutical preparations

Electromedical equipment

Patent owners and lessors

Diagnostic substances

Dental equipment/supplies

Biol. products, excl. diagnostic

X-ray apparatus and tubes

And Losers

Surgical appliances and...

Going Way Back

The life sciences industry has had a strong presence in New Jersey for over a century. Here are some milestones:

Source: Institute for Strategy and Competitiveness Cluster Mapping Project, via Michael E. Porter and Monitor Company Group

- Francesco Fiondella