Katie LannanState House News ServiceBOSTON — Employment in the state's biopharmaceutical sector grew by 5.5% last year, to more than 82,000 jobs, despite an economic downturn resulting from the COVID-19 pandemic, according to a new industry report. After hitting a peak of $5.8 billion in 2020, biopharma companies headquartered here raised $4.3 billion in venture capital in just the first quarter of 2021, the report said. The industry also benefits from public investment, with significant bond bills, tax credits and other programs targeting education, research and development and workforce training in the life sciences. Charlie Baker signed a life sciences bill that called for $473 million in capital spending over five years. About one-third of MassBio's dues-paying life sciences members, or 251 members, are in Cambridge, and another 90 are in Boston.

Source: MetroXpress August 25, 2021 17:36 UTC