San Diego’s genomics industry is generating $5.6 billion in economic activity — more than the entire research community — according to a new report published by the San Diego Economic Development Corp.
The city is home to over 115 genomics firms generating 10,055 direct jobs. The report’s release coincided with the BIO International Convention, which began Monday June 19.
The report found that San Diego ranks second in the nation when it comes to genomics innovation (patents awarded, federal funding, venture capital), and talent (genomics graduates, occupational concentration). The city was edged out for first place by Boston, a mecca for life science research and innovation.
According to the report, San Diego genomics companies attracted $292 million in venture capital last year. That’s 22 percent of all VC money distributed to genomics firms last year, despite the fact that the county is home to 1 percent of the American population.
The full report can be found here.