Report: Life Sciences Industry Economic Impact Approaches $40B in Washington
Life Science Washington released its annual Economic Impact Report and Washington State Investor Report, showing the industry’s strong growth over the last couple of years.
This year’s Economic Impact Report shows Washington’s life science industry accelerated job growth from 2020-22 with 14% growth. The report also finds the industry directly employs more than 46,000 jobs in the state.
This year’s Washington State Investor Report shows there was $854.3 million in investment activity in 2023, across 111 unique investors and 35 deals.
According to Loretta Little, managing director at WRF Capital, one of the firms that led investment activity in 2023, “This is an exciting time for Washington’s life science industry as we’re seeing companies at all stages of growth attract investment. Life science companies across Washington continue to uniquely combine the state’s technology prowess and research expertise to produce lifesaving innovations that investors are eager to support.”