News Release

October 30, 2024 (Salt Lake City) – Salt Lake County’s life sciences industry is experiencing robust growth, contributing significantly to the region’s economy. A new research brief from the Kem C. Gardner Policy Institute at the University of Utah shows the industry generated an estimated $5.8 billion in GDP in 2023, representing 5.1% of the county’s total GDP and $9.3 billion in total output.

“Salt Lake County’s life sciences industry is a powerful engine of economic growth, generating high-paying jobs and significant economic value,” said Andrea Brandley, senior education analyst at the Gardner Institute. “With three-fourths of Utah’s life sciences jobs and over 80% of earnings, Salt Lake County plays a central role in this important industry.”

Key highlights from the report include the following:

• Job Growth – The life sciences sector added jobs at an average annual rate of 4.5% from 2018 to 2023, exceeding the 2.1% growth rate of other industries in the county. The county now boasts 41,455 life sciences jobs.
• Economic Significance – The industry accounts for 4.4% of Salt Lake County employment and 5.6% of county wages, exceeding other Utah counties. Average annual earnings in the sector are $112,197 – 27.2% higher than other industries in the county.
• Industry Diversity – The life sciences sector includes research, testing, and medical labs; medical devices and diagnostics; biosciences distribution; and therapeutics and pharmaceuticals.
• Workforce Pipeline – Utah higher education institutions are producing a growing number of graduates in biological and biomedical fields.

The full research brief, including details on the largest employers in the sector and future workforce projections, is now available online.