Bioscience is a rapidly growing sector that encompasses a range of industries, including green technology, food science and medicine. No other industry is devoted to solving so many diverse problems. With the right backing, bioscience innovation can translate into jobs and solutions to some of our biggest challenges.
The bioscience sector requires a skilled and well-educated workforce. New Mexico’s educational institutions produce a large pool of talented bioscience graduates every year. States that have invested in bioscience growth have created 147,000 jobs over the past 15 years.
In addition to direct bioscience positions, a thriving bioscience industry produces an economic multiplier effect. In 2014, 1.66 million U.S. bioscience jobs contributed to 7.53 million indirect jobs, for a total of 9.18 million bioscience-related jobs. As the industry grows, businesses that support it will grow as well. For example, biomechanical engineering jobs are expected to grow by 35 percent between 2014 and 2024. This upward trajectory will only increase as states devote more resources to the industry.
Economic development gurus regard the biosciences as the proverbial pot of gold. As a state that is richly endowed with biosciences expertise, New Mexico is uniquely positioned to rapidly grow this industry.