Some of Utah’s largest employers are healthcare companies, such as Intermountain Healthcare and 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.
For 15 years since 2002, the annual growth in the number of Utah life science employees was 3.5%, compared to 2.0% for all other companies in Utah. The average earnings for these employees was more than 50% above the average for Utah jobs in other 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 rounds of funding, 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.
Financial and Billing