SA's Healthcare And Bioscience Industry Tops $37 Billion

Nov 17, 2016

A new economic impact study out today shows San Antonio’s Healthcare and Bioscience industry is huge and growing.

From labs to hospitals to 19,000 physicians, the healthcare and bioscience industry had a $37 billion impact on the San Antonio economy in 2015. More than 1 out of 6 people with jobs in the city work in health care or bioscience with wages and salaries totaling more than $9 billion.

  

"There are a lot of jobs in this industry and they’re well-paying jobs. It’s a clean industry," said Jim Reed, San Antonio Medical Foundation President. "And we see no reason why it shouldn’t continue to grow. And no one ever dreamed that health care and biosciences would be larger than military or tourism."

San Antonio Chamber of Commerce President and CEO Richard Perez hosted the announcement of the newest Healthcare and Biosciences Economic Impact Study.

  

At a San Antonio Chamber of Commerce presentation of the numbers, Trinity University economist Richard Butler, Ph.D., reported that the industry has grown 16 percent over the last two years.

"The industry has doubled in size since 2005," Butler reported. "It’s more than six times its size 25 years ago."

Over the last decade, the healthcare and bioscience industry has added 50,000 new jobs.

A crowd of people from the healthcare and bioscience industry in San Antonio were on hand for the presentation.