Central Indiana’s1 healthcare and life sciences sector has an $84 billion annual economic impact and directly employs more than 133,000 people and 331,000 workers indirectly, according to a new report. The study from TEConomy Partners, ESSENTIAL: The economic impact of Central Indiana’s healthcare and life sciences sector, examined the influence of decades of investments in the region as well as how the sector provides benefits to Indiana’s other industries such as manufacturing, technology and retail.
The report discusses not only the economic measures of capital expenditures, wages and jobs, but also analyzes the non-traditional impacts such as access to healthcare and its influence on economic development. It also points out that the healthcare and life sciences ecosystem is larger than traditional research and development, underscoring the importance of continued investment in the sector.
The full report and executive summary are available at www.biocrossroads.com.
1For this report, Central Indiana is defined as Boone, Brown, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Monroe, Montgomery, Morgan, Putnam, Shelby, and Tippecanoe counties.