California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.
California is home to more than 2,700 biomedical companies and more
than 100 universities and private non-profit research organizations that
are engaged in biomedical research & development and manufacturing.

The state's biomedical industry accounts for nearly 260,000 jobs.
Biomedical firms paid approximately $18.2 billion in wages and salaries
in 2005. Californians employed within the industry earn an average annual
salary of $70,400, with the highest average annual wage going to those in
biopharmaceutical companies, at $81,300.

Biomedical companies in California generated $62 billion in revenue last year
and accounted for two-thirds of the market value of all NASDAQ listed life
sciences companies.

I’m Tim Johnson and this has been the California Business Minute.