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Chamber releases Economic Impact of Healthcare and Bioscience Industry

On Tuesday, the Chamber unveiled the findings of the biennial economic impact study of the healthcare and bioscience industries. The results are clear: the industry is strong and its impact broad. More than one in six people employed in San Antonio worked in this industry and earned an average wage of $53,718 in 2017. The impact in 2017 was $30.6 billion conservatively, and $40.2 billion by a more comprehensive estimate, remaining one of San Antonio’s largest industries.

The results were presented and produced by Dr. Rich Butler and Dr. Mary Stefl of Trinity University, who have worked with the Chamber for more than 20 years to produce this study. Since 1996, the San Antonio Chamber of Commerce has commissioned this study to quantify and promote the growth, opportunity and prominence of these sectors. The data is used in Washington, DC, Austin and across the globe to promote the unique assets held within our community.

Dr. Larry Schlesinger, President and CEO of Texas Biomedical Research Institute (Texas BioMed), provided a keynote address on the value brought by recent collaboration between the major research institutions in San Antonio: Texas Biomed, military medicine, The University of Texas at San Antonio, The University of Texas Health Science Center at San Antonio, and Southwest Research Institute (SWRI).

Dr. Schlesinger’s remarks were in line with the focus on “Transformational Collaboration,” one of 2018 Chamber Chairman Shaun Kennedy’s key initiatives. This, along with innovation, are themes carried throughout the report.

Volunteers from the Chamber’s Healthcare and Bioscience Committee assisted in gathering stories, pictures and editing the report. This year’s subcommittee chair was Walt Downing, Chief Operating Officer at SWRI and current Chair of BioMed SA. The full committee is co-chaired by Beth Eby and Paul Johnson, who will continue as co-chairs through 2019.

The study is available on our website for download.

Please contact Belinda Garza Hartwig, Vice President of Economic Development, with any questions at bhartwig@sachamber.org.

 

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