29 Oct Biohealth industry had $22B impact in Wisconsin last year, report shows
Wisconsin’s biohealth industry had an estimated $22 billion direct economic impact in the state last year, according to BioForward Wisconsin’s latest report.
The Madison-based group recently published its “Wisconsin Biohealth Industry Landscape and Economic Impact Report,” detailing job growth in the sector and its contribution to the state economy. The release coincides with the Wisconsin Biohealth Summit, being held in Madison this week.
In addition to the direct economic impact, the report highlights $37.7 billion in total economic impact in the state, combining direct, indirect and induced sources.
The biohealth industry supports more than 141,000 jobs across the state from these broad impacts, and industry employers directly employed more than 58,000 people in 2023, according to the report. That direct employment figure has grown by 25% since 2018.
Report authors are touting the impact of workers in the industry, noting the value added per worker in biohealth was $270,000 in 2023 — well above the comparable figure for the overall state economy, which was $131,000 for the year.