Report: Puerto Rico bioscience jobs up 14.3% since ’19
The industry fuels the island’s economy with specialized employment and academic research efforts.
Puerto Rico’s bioscience industry is rapidly growing, contributing significantly to the island’s economy with a 14.3% increase in employment since 2019.
In 2023, the sector employed 42,483 individuals, compared to 37,170 in 2019, across 1,077 establishments, according to a report by the Biotechnology Innovation Organization (BIO) and the Council of State Bioscience Associations (CSBA). The report focuses on the economic performance and geographic footprint of the bioscience industry in the United States.
“With a location quotient of 3.30, Puerto Rico’s bioscience employment concentration is more than three times the national average, reflecting the island’s specialization in this field,” the report stated.
Four of the island’s five bioscience subsectors — pharmaceuticals, medical devices, bioscience-related distribution and research/testing laboratories — have employment concentrations that exceed national averages. This distinction is unmatched elsewhere in the United States and underscores the industry’s strong foundation on the island.
The average annual wage in Puerto Rico’s bioscience industry was $58,571 in 2023, 80% higher than the private sector average. Among the subsectors, pharmaceuticals and medical devices stand out, with annual wages of $80,368 and $45,615, respectively.
The medical devices subsector saw the fastest employment growth, expanding by 28.4% between 2019 and 2023. Research and testing laboratories followed with a 23% increase in employment. Meanwhile, the pharmaceutical subsector remains a cornerstone of the industry, employing more than 13,000 people with steady growth.
In 2022, bioscience-related academic research and development expenditures totaled $61 million, accounting for 64% of Puerto Rico’s total R&D spending. Institutions on the island received $54.7 million in National Institutes of Health (NIH) funding in 2023, fueling innovation and research efforts.
Despite these achievements, Puerto Rico ranks in the bottom quintile for venture capital investment and bioscience-related patents. Between 2019 and 2023, the island attracted only $12.6 million in venture capital investments, with limited activity in biotechnology and medical devices.
“America’s bioscience sector is vital to addressing the world’s most pressing challenges — from pandemics and national security to preventative health and environmental sustainability,” said John F. Crowley, BIO’s CEO.
“Industry leaders and researchers overcome tremendous obstacles every day to advance innovative solutions and help people lead healthier lives, and this report shows how the sector continues to enrich communities, create jobs and grow economies across our great country,” he added.
The report also revealed that, in 2023, the U.S. bioscience industry employed nearly 2.3 million people across almost 150,000 establishments. The sector indirectly supported nearly 8 million additional jobs and contributed an overall economic output of more than $3.2 trillion.
