Pittsburgh’s Poised to Become Life Sciences Powerhouse

by on June 5, 2017

 

Pittsburgh’s prowess in life sciences was on display during Pittsburgh Life Sciences Week. Celebrated on May 22-26, the week-long series of innovation forums presented by the University of Pittsburgh brought together a diverse mix of life sciences groups – researchers, entrepreneurs, large corporations and investors – to connect and discuss current successes and emerging topics in this sector, and there was a lot to talk about.

In 2016, the region’s healthcare and life sciences sector has experienced the largest capital investment since 2011: $150 million. And, with the sector contributing nearly 10 percent of GDP in our region and employing some 133,000 people, Pittsburgh is poised to become a national powerhouse in life sciences. A number of domestic and foreign owned firms are investing in the region, and just last year there were 18 new healthcare and life sciences deals, accounting for 2,983 anticipated new jobs in southwestern Pennsylvania. New investment in the sector is supported by a robust network of incubators, R&D centers and universities – including the University of Pittsburgh, which receives over $700 million in NIH funding annually and ranks fifth among universities nationally. The region is working collaboratively to leverage this success and build greater partnerships that will accelerate innovation, life-changing technologies and economic growth.

Recent Life Sciences News:

Read more regional economic development news and events in the June 2017 PRA Post.