Indiana’s healthcare and life sciences sector has a $150 billion annual economic impact; directly employs one in every ten jobs in the state (more than 383,000 people); and has a substantial presence in the corporate and university sectors, according to a new BioCrossroads report. The study from TEConomy Partners, ESSENTIAL: The impact of healthcare and life sciences sector in Indiana, examined the influence of decades of investments in the state as well as how the sector provides benefits to Indiana’s other industries such as manufacturing, technology and retail.
Key data from the report include:
- Every $1 of goods and services produced by the healthcare and life sciences sector, generates an additional $0.52 within the Indiana economy.
- The combined healthcare and life sciences sector grew by 9.5 percent overall from 2015 to 2020.
- More than 4 million square feet of committed construction projects have been underway since 2020, accounting for $5.5 billion of capital project spending by healthcare and life sciences organizations.
- National Institutes of Health funding to Indiana institutions has reached $1.04 billion over the most recent 3-year period.