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Industry Outlook: Biotech/Bioscience
YOU DON’T HAVE TO BE A SCIENTIST
IBY STACEY PFEFFER
t has been a banner year for the biotech industry. The rollout of the COVID vaccines developed by industry leaders, followed by a wave of successful IPOs, underscores that biotech is a booming business.
Experts project the global biotechnology market value will reach $727.1 billion by 2025. Additionally, the biotech
employment rate is expected to grow by 10% between 2016 and 2026, according to the United States Bureau of Labor Statistics, which is noticeably faster than the 7% average for
all fields. While the greater Boston area and Silicon Valley are often thought of as biotech hubs, Westchester County is an attractive option for jobseekers looking for employment in the biotech/biosciences industry. In fact, the county represents 20% of the state’s biosciences employment and has more than 8,000 jobs spanning across 200 companies, from startups to large manufacturers in this sector.
OPPORTUNITIES ABOUND BEYOND WHITE COATS
If you thought biotech jobs were only for white coats and scientists studying samples, think again. There are also opportunities in the many fields that support this burgeoning industry, from consulting and financing to marketing and communications. Jobs exist at not only biotech companies but also medical device manufacturers, nonprofits, and academic institutions all located within the 914. While many employers do require at least a four-year degree in a bioscience-related field, some positions do not.
Bridget Gibbons, the director of economic development
for Westchester County, established the Bioscience Industry Task Force, which she now co-chairs with Deborah Novick. Novick also works in the Westchester County Office of Economic Development as the director of entrepreneurship and innovation. Gibbons notes that the county is dedicated to growing the bioscience industry and views it as a priority sector.
The bioscience field is an interesting sector, notes Gibbons, because “when businesses are just starting out, a small
handful of scientists are working in R&D mode.” They may be coming up with solutions or therapeutics to help patients, but
as the company grows, they start to bring on one or two
people to complement their business objectives. Gibbons notes that the Bioscience Industry Task Force has businesses of all sizes on board, from the smallest startups to industry leader Regeneron, which employs approximately 4,400 workers in the county.
20 2022 SKILLS What’s Hot. What’s Next. What’s Needed.
“Not everyone that works for Regeneron is a scientist,” Gibbons points out. “You have accountants, a legal department, maintenance crew, groundskeepers, administrative assistants, HR workers, and IT specialists.”
Gina Thomas, executive director of talent acquisition at Regeneron, echoes Gibbons’ sentiments. “There are so
many opportunities in biotech/bioscience — from pricing and patient access to therapeutics, general and administrative, medical affairs, procurement, accounts payable, HR, corporate communications plus facilities and maintenance.”
While many jobs do call for a four-year degree, Gibbons stresses that from speaking with employers, certain positions do not necessarily require it. For example, if you can demonstrate skills in IT such as managing a network, you might be a suitable candidate for an IT support position.
According to the New York Department of Labor, positions for chemical and life science technicians are set to grow significantly by 2028 in the Hudson Valley. For example, the department predicts a 15% growth in openings for chemical technicians, who require only an associate degree. Entry-
level salaries in the Hudson Valley for such positions average $36,000, but experienced workers can earn close to $75,000. For life, physical and social science technicians, openings in the Hudson Valley are set to grow 8.8%, with similar entry-level and experienced salary figures.
Other job opportunities at biotech/bioscience companies and their entry-level salaries include administrative coordinator ($35,000), accounts payable associate ($32,000), animal
care technician ($35,000), biological technician ($36,000), IT support specialist ($38,000), marketing and communications associate ($43,000), and shipping and receiving clerk ($29,000). Many of these professions offer tremendous opportunities for salary growth down the line. And no matter what your annual salary is, workers within this industry gain the personal satisfaction of knowing they might be helping millions of Americans overcome or prevent diseases.
REGENERON: A PLACE WHERE BIOTECH CAREERS BLOSSOM
In the region, Regeneron is the leading biotech employer, with offices in Sleepy Hollow and Tarrytown. The company plans to add 1,000 new employees in 2022. Hiring that
many employees is a large undertaking and the company encourages students as early as high school and even middle school to pursue STEM careers to help fill their talent pipeline.