July 31, 2009

Economic Impact on Delaware's Economy: The Biopharmaceutical & Related Sectors

The Center for Applied Demography & Survey Research at the University of Delaware employed the REMI Policy Insight model to conduct this study measuring the economic impact of the biopharmaceutical and related sectors in Delaware during 2008. The REMI model was tailored to the state of Delaware using data from the Bureau of Census, the Bureau of Economic Analysis, the Bureau of Labor Statistics, and the Energy Information Administration among others. Analysts discovered that annual wages in this sector ($110,000) were significantly higher than in all other sectors in Delaware, aggregate sector wages approached $1.25 billion, an estimated $59.7 million in state personal income taxes were paid, and the biopharmaceutical sector’s share of Delaware’s jobs and wages was the sixth largest in the United States.

University of Delaware – Economic Impact on Delaware’s Economy: The Biopharmaceutical & Related Sectors [full PDF]