This week’s episode of “WisBusiness: the Podcast” is with Lisa Johnson, CEO of BioForward Wisconsin.
Johnson touts the growth of Wisconsin’s biohealth sector and companies, highlighting findings from the organization’s latest report on the industry. The report, released in October, found the industry had a $32 billion impact on the state’s economy last year, including $19 billion in direct economic output.
“Wisconsin’s biohealth industry is leading the state out of the economic challenges from the pandemic years,” she said. “It’s outpacing other major state industries with strong, high-wage growth that really is generating significant economic impacts throughout the state.”
Johnson says one of the industry’s main strengths is its diversity, including digital health, medical devices, scientific research and testing, pharmaceuticals and much more.
“A lot of that has to do with the strength of our supply chain in the state of Wisconsin, which is a credit to this entire state,” she said. “Where the biohealth industry companies themselves tend to be concentrated in the Madison/Milwaukee area, our supply chain is everywhere.”
She also highlights trends in research and development as well as venture capital investment.
Listen to the podcast below, sponsored by UW-Madison: