Life Sciences & Healthcare
Utah's largest employers are healthcare companies, such as Intermountain Healthcare and the University of Utah Health.
Utah's life science industry develops, manufactures, and distributes pharmaceuticals and medical devices that make modern healthcare possible, generating $9.6 billion in annual sales. International life sciences companies such as BioFire, Merit Medical, and Myriad Genetics began in Utah.
The Utah life sciences industry provided more than 40,000 full-time and part-time jobs in Utah during 2018, a 5.9% increase from 2017.
Since 2002, the annual growth in Utah life science employees was 3.5%, compared to 2.0% for all other companies in Utah. These employees' average earnings were more than 50% above the average for Utah jobs in different industries in 2018.
The cutting-edge technology, world-class research, and robust workforce within Utah's life sciences ecosystem attracted $4.1 billion in investment from 2013 to 2017. These investments included venture capital, subsequent funding rounds, mergers and acquisitions, and public stock offerings.
As the life sciences industry expands, more inputs are required from suppliers, creating additional jobs and investment opportunities in other parts of the state's economy.