The Northeast Health Corridor
December 30, 2002
Just as California's Silicon Valley is associated with hi-tech industry and the Pacific Northwest brings to mind aerospace endeavors, so the nation's Northeast Corridor -- running from Boston to Bethesda, Md. -- has come to be identified with the health care industry.
- Almost one out of every 10 jobs in the Northeast Corridor today is in health care --a higher proportion than in any other region of the country.
- In New York City, four out of the 10 largest private employers are medical institutions -- and in Philadelphia, it is seven out of 10.
- Health care companies in the Northeast's medical megalopolis have added 50,000 jobs -- while since 2000, all other industries combined have lost 220,000.
- From 1988 to 2001, the average salary for health care workers in the Northeast jumped from roughly $25,000 to a level approaching $45,000 -- slightly above the national norm.
Drug companies have settled into the Northeast, taking up the slack in technology spending which began to decline around 2000 -- and many displaced technology workers have found employment in the drug sector.
Of the top 20 global pharmaceutical and biotechnology companies, 15 are now headquartered in the Northeast.
Source: David Leonhardt, "Growing Health Care Economy Gives Northeast a Needed Boost," New York Times, December 30, 2002.
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