NEW JERSEY’S LIFE SCIENCES

By the Numbers

New Jersey’s biopharmaceutical and medical technology companies make a significant contribution to the state’s economy.

New Jersey's biopharmaceutical and medical technology companies generate:

in total economic impact to the state economy

*Represents the ratio of total economic impact ($130.8 billion) to New Jersey’s GDP in 2023 Q3 ($810 billion).

total life sciences-supported jobs in New Jersey (8.1 percent* of all jobs in the state)

356,725, by New Jersey’s biopharmaceutical industry (75,833 direct sector jobs and 280,892 indirect jobs)
12,346 by New Jersey’s medical technology companies

*Represents ratio of total jobs to New Jersey employment as of March 2024.

in goods and services purchased by biopharmaceutical companies

New Jersey-based vendor relationships in 2022

in 2020 annual payroll (6% of the state’s wages)

in personal taxes paid by New Jersey workers in biopharmaceutical-related jobs in 2017

$6.6 billion in federal taxes

$913 million in state taxes

New Jersey households estimated to be economically associated with the biopharmaceutical and medical technology sectors

New Jersey residents (1 in 9) estimated to be economically touched by the life sciences sector