BOSTON, MA — Governor Josh Shapiro recently addressed thousands of industry leaders, researchers, and investors at the BIO 2025 International Convention, emphasizing Pennsylvania’s leadership in the life sciences sector and unveiling plans for bolstering innovation and economic growth across the Commonwealth.
“Pennsylvania is home to world-class research institutions, cutting-edge companies, and a workforce ready to lead the next generation of innovation,” said Governor Shapiro during a fireside chat with Biotechnology Innovation Organization (BIO) CEO John F. Crowley.
Governor Shapiro outlined his proposal for a $50 million investment to accelerate life sciences and other industries. This includes $30 million to create jobs in the sector and $20 million in annual support for large-scale innovation. Additional budget items include $10 million in AdvancePA tax credits for high-quality job creation, $12.5 million for workforce development programs, and $5 million to fund neurodegenerative disease research.
These measures build on Pennsylvania’s Economic Development Strategy, its first in nearly two decades, which focuses on life sciences, agriculture, energy, manufacturing, and technology. Since Governor Shapiro’s inauguration, Pennsylvania has secured more than $25 billion in private sector investments, creating over 10,750 new jobs; firms like GSK and Adare Pharma Solutions have significantly expanded their operations in the state.
The life sciences sector employs over 100,000 Pennsylvanians across 3,100 companies and research institutions. With more than 10,700 patents acquired in the last five years, Pennsylvania ranks fourth nationwide. By 2035, the industry is expected to grow by over 6,500 jobs, driven by advancements in research and development.
The BIO 2025 International Convention, the world’s largest biotech event, served as a platform for the Governor to affirm his commitment to fostering economic growth while ensuring Pennsylvania remains a leader in biotechnology, innovation, and life-saving scientific breakthroughs.
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