Sector had economic impact of $42.4 billion in 2019
BioBridge Global is part of an industry that has an economic impact of $42.4 billion a year in San Antonio, according to a new report by the San Antonio Chamber of Commerce.
The “Healthcare and Bioscience Economic Impact Study 2020” estimated the industry paid $10.4 billion in wages to 187,825 employees in 2019, making it one of the largest sectors in the city.
“It’s very satisfying to be part of a team that is in the business of helping and healing people,” said Martin Landon, Chief Executive Officer at BioBridge Global. “I’m also blessed to be working with a great team in an industry that is leading the way for San Antonio’s economic and community development.”
According to the study, healthcare and biosciences organizations in San Antonio have:
- Added 46,602 jobs in the last decade
- Shown a 74% increase in economic impact in the last 10 years
- Increased annual payrolls by 60% from 2009-2019
- Expanded economic impact by 440% since 1994
Those employed in the healthcare and biosciences industry earned an average of $55,242 a year in 2019, 7% more than the average for all workers in San Antonio. BioBridge Global, the San Antonio Medical Foundation, University Health, BioMedSA, Methodist Healthcare Ministries and UT Health were sponsors of the survey, which is conducted every other year.