NEW REPORT HIGHLIGHTS NEW YORK LEADING NATION IN LIFE SCIENCES JOB GROWTH, RESEARCH, FUNDING & INNOVATION

New data from biennial TEConomy report shows New York’s bioscience industry shows strong growth at a pivotal time for the industry

New York, NY – NewYorkBIO today celebrates findings from “The U.S. Bioscience Economy: Advancing Innovation and Strengthening States and Regions,” a biennial report from the Biotechnology Innovation Organization (BIO), the Council of State Bioscience Associations (CSBA) and TEConomy that measures the economic impact and workforce strength of the national life sciences landscape. New York has once again been named a national leader in the report, with significant industry employment growth, strong public- and private-sector investment, and continued leadership in bioscience-related R&D expenditures.

The report, which analyzed the years 2021-25, revealed New York maintained its position as second in the nation for total NIH funding only behind California. The state’s bioscience industry supported 118,906 jobs across 6,397 businesses statewide in 2025. As a result, industry employment increased 5.8 percent since 2021, placing New York among the top 10 states by absolute job gains.

Significant statewide growth was led by bioscience-related distribution, which recorded a double-digit employment growth, while pharmaceuticals and research, testing, and medical laboratories also added jobs. Notably, these positions paid an average annual wage of $144,154, forty-three percent higher than the state’s private-sector average.

New York’s employment strength was matched by robust investment in research and innovation. From FY2021-25 the report showed:

• Venture capital investment in New York’s bioscience companies totaled $27.3 billion
• New York inventors were affiliated with 9,620 bioscience-related patents
• Bioscience-related R&D expenditures at the state’s universities totaled $6.4 billion in FY2024, compared to the total $5.5 billion R&D expenditures reported in FY2022, with institutions receiving $3.5 billion in NIH funding in FY2025
• New York also continues to rank in the top quintile of states across all four research and innovation measures assessed in the report, placing second nationally in 2024 academic bioscience R&D expenditures

“These findings underscore New York’s strength as a life sciences leader, driving sustained growth, creating high-quality jobs, and advancing world-class research,” said Jennifer Hawks Bland, CEO of NewYorkBIO, who also serves as the Vice Chair of the CSBA. “This momentum is fueled by strategic investment by state and local governments, industry leaders, academic institutions, and entrepreneurs across the Empire State. As our ecosystem continues to expand year-over-year, New York is well positioned to attract talent and capital, translate groundbreaking science into new companies, and advance treatments for patients across the globe.”

“2026 has brought important developments for New York’s life sciences ecosystem propelling the industry forward at a pivotal time, and the report underscores the need for continued federal, statewide, and citywide investments and support for medical innovation to capitalize on the momentum of our shared success,” she continued. “Together, our industry’s coordinated efforts help companies at all stages translate scientific discoveries into treatments, grow their businesses, and strengthen New York’s economic competitiveness and global leadership.”

NewYorkBIO looks forward to continuing to advocate for the policies that support the life sciences, strengthen research and commercialization infrastructure, and expand economic opportunities across the state, ultimately helping ensure that New York remains a place where companies can launch, grow, and improve patients’ lives.

About NewYorkBIO
As the leading advocate for the life science community in New York, NewYorkBIO brings together hundreds of New York’s bioscience companies, universities, research institutions, and others dedicated to advancing life science research and commercializing treatments and cures for patients. NewYorkBIO connects key voices and companies of all sizes with resources to initiate and support transformative change to impact patient outcomes. Learn more at https://www.newyorkbio.org/.