TRENTON, N.J.--(BUSINESS WIRE)--A growing base of well-paid jobs, rising spending on goods and services and swelling tax revenues are strong signs that New Jersey’s expanding biotechnology industry has made significant and increasing contributions to the State’s economy. Between 2003 and 2006, the number of employees working directly for biotechnology companies in the State increased 28 percent to more than 10,000 from 7,800. The multiplier effect from this robust growth has also led to the creation of 9,300 jobs supporting the industry and another 7,600 jobs attributed to higher worker spending. The total impact of the State’s biotechnology industry is estimated to be in excess of $1.7 billion in income to State residents. These are among the findings of a report issued today by the Biotechnology Council of New Jersey (BCNJ) and Deloitte & Touche USA LLP.
