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Executive Summary of the Economic Impact Study: Profiling the Growth of Oregon’s Bioscience Industry, 2014

Bioscience in Oregon is now not only at $10.3 billion statewide impact, the combined biotechnology and life science sectors are continuing in their steady and significant growth in employment, wages and overall economic activity that ripple through every sector of Oregon.

The new economic impact study shows bioscience in Oregon generates high-paying jobs, while bringing new money to the state through domestic and international exports. In 2014, the direct economic activity associated with Oregon’s bioscience industry includes:
  • 17,874 jobs and $1.3 billion in total wages,
  • An average annual wage of $74,188, which is 62 percent greater than the statewide average wage for private sector employment,
  • $3.8 billion in exports, and
  • $171.5 million in state and local taxes paid by bioscience firms and their employees
Read the summary and full report to get more details on how these impacts multiply.


   
Executive Summary

FINAL Oregon Bio ExSum 06 27 16
             Full Report

FINAL Oregon Bio FullReport 06 27 16
   

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News Flash

  • Oregon raises its grade for health care price transparency

    A national organization has recognized Oregon’s efforts to increase health care transparency by raising the state’s grade to a B from an F.

    The 2016 Report Card on State Price Transparency Laws, developed by the Health Care Incentives Improvement Institute and Catalyst for Payment Reform, had previously given most states a failing grade.

    Oregon now joins the ranks of seven states that received a passing grade and one of only four that got an A or B.

    The quality of its transparency website contributed to Oregon’s improved grade. Oregon collects data in an All Payers All Claims Database and publishes it “on a good website for consumers,” the report notes.

    “Oregon can earn an even higher score if the state collects practitioner prices in addition to facility prices and does so for a greater number of services and procedures,” the report says.

    The Oregon Association of Hospitals and Health Systems created and maintains the website, OregonHospitalGuide.org. The association supported legislation in 2015 to improve transparency.

    “We tackled the tricky issue of health care pricing transparency head on in 2015 and I’m proud to know that our hard work did not go unnoticed,” Rep. John Lively, who shepherded the bill through the legislature, said in a written statement. “In a data-driven world, it was unacceptable to think that our state’s health care system could not provide good pricing data for patients to access.”

    The state recently released a list of median amounts paid by private insurance plans for dozens of procedures at Oregon hospitals in 2014.

    _____________________________________

    Elizabeth Hayes
    Staff Reporter
    Portland Business Journal
    Jul 26, 2016

Bioscience News

  • Humans have a habit of stalling their own progress, writes Steven Overly for The Washington Post. From coffee to mechanical refrigeration to genetically altered food, history is littered with innovations that sparked resistance before becoming fixtures in everyday life. In hindsight, opposition to innovations such as mechanical farm equipment or recorded music may seem ludicrous. But the past 600 years of human history help explain why humans often oppose new technologies and why that pattern Read More >

  • Market entry. Trade agreements. The regulatory and commercial environment. Innovation. Tactical strategies. The road map for doing business in Latin America can be a complicated one. The BIO Latin America Conference, taking place October 26-28 in São Paulo, Brazil, will explore many of the themes addressed in the Emerging Opportunities in Global Markets track at BIO 2016 this past June. Co-hosted by BIO and Biominas, with support from ABBI, this is the must attend event Read More >

  • Soylent, a Silicon Valley food startup with a cult following, proudly makes its meal-replacement beverages and powders with genetically modified organisms.  In a detailed blog post complete with scientific references and accompanying charts and graphs, Soylent explains why.  Their report is excerpted below: As a society, we struggle to satisfy the global demand for food. One in nine people across the globe suffer from hunger, and in order to keep pace with the rate of Read More >

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