New Hampshire Department of Business and Economic Affairs releases industry snapshot and assessment of sector growth
CONCORD, N.H., June 1, 2023 /PRNewswire-PRWeb/ -- The New Hampshire Department of Business and Economic Affairs (BEA) today announced the findings of a statewide life sciences industry assessment, which found that the state's life science workforce added 1,484 jobs, representing a 15.1% growth rate within the industry and 3.8% of the state's total job growth between 2012 and 2021. To further ensure growth and support the $2.8 billion sector, the BEA conducted a comprehensive assessment of New Hampshire's life science sector. One of the findings was that the state would benefit from a life science association to nurture, protect and grow the industry, while providing networking, talent attraction and mentorship opportunities for life science companies, entrepreneurs and students.
The Camoin Associates study found that the life sciences industry saw $4.3 billion in sales in 2021 and represents 11,290 jobs, with average salaries of $130,848 per year. The industry's top group is medical device manufacturing, with 31% of all life science jobs, followed by research and development services (26%), medical equipment and supplies manufacturing (23%), pharmaceutical and medicine manufacturing (16%) and medical and diagnostic laboratories (4%).
"With a mission to bolster the economic vitality of our state, the BEA is constantly seeking opportunities to provide increased support to our valued partners and key industry sectors," says Taylor Caswell, commissioner at BEA. "This new strategy will help make our life sciences sector even more robust – allowing for workforce growth, strengthened partnerships and igniting fresh innovations within this thriving industry."
The report reinforces the need for a New Hampshire-based life sciences industry association to drive peer-level sector support, recruitment and advocacy. Thanks to leading industry partners, this concept has been in development for the past several years and has now officially launched as New Hampshire Life Sciences (NHLS).
The report will also serve as the basis for a new series of strategies to support the industry's growth. They include continued outreach regarding relevant market data, forging cross-industry workforce partnerships, establishing acceleration and incubator programs to address workforce gaps, and expanding marketing communications to amplify the industry.
"Right here in New Hampshire, an entirely new industry in biomanufacturing is being created, innovative treatments for the world's deadliest cancers are transforming patient care, and vaccines that are preventing disease around the globe are being developed," said Andrea Hechavarria, the new president and CEO of the state's first-ever Life Science Association (NHLS). "NHLS has been formed to support these breakthroughs, the companies and employees that have created them and ultimately the patients that receive them."
One of the state's leading life sciences organizations is the Advanced Regenerative Manufacturing Institute (ARMI), a nonprofit focused on the development of large-scale manufacturing of engineered tissues and tissue-related technology. Manchester-based ARMI was awarded a five-year, $51 million grant to boost its efforts. It has since been granted $44 million in Build Back Better funding.
Other notable Granite State life science expansions include Novocure, a global oncology and medical device company that recently announced a $9.5 million expansion in the heart of downtown Portsmouth in 2021. The company ranked second for total industry research and development spending in 2022. This year, Detact Diagnostics, a Netherlands-based life sciences company that produces bacterial- and viral-detection solutions, established its U.S. headquarters and laboratories in Keene. Lonza Biologics (global vaccine manufacturer with operations in Portsmouth) and PCI Pharma Services (a pharmaceutical outsourcing company with operations in Bedford) are both currently in the process of significant expansions of their manufacturing campuses.
"New Hampshire's vibrant life sciences industry and well-documented innovation climate have always gone hand-in-hand with our company's patient-forward culture of growth," said Bill Doyle, executive chairman of Novocure. "We look forward to finishing the construction of our new flagship facility in Portsmouth that will provide space for Novocure's growing employee base and world-class training and development center. We are proud to play a role in shepherding the continued growth of the Granite State's robust life sciences community."
New Hampshire fosters a business-friendly environment where life science companies can benefit from a top-tier workforce, access to an R1 research institution at the University of New Hampshire, and close proximity to the global life science hub in Boston.
To read the full life science industry summary and strategy, please visit https://www.nheconomy.com/about-us/bea-reports.
About the New Hampshire Department of Business and Economic Affairs (BEA)
The Department of Business and Economic Affairs is dedicated to enhancing the economic vitality of the State of New Hampshire while promoting it as a destination for domestic and international visitors. For more information, visit http://www.nheconomy.com or http://www.choosenh.com.
Media Contact
Rachel Lessig, Violet PR, 973-255-0541, [email protected]
SOURCE New Hampshire Department of Business and Economic Affairs
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