Life Sciences & Medical Services
The Life Sciences & Medical Services cluster includes a variety of sub-sectors, but those most relevant to Polk County are focused in the Health & Medical Services sub-cluster, defined by SRI as including hospitals, nursing and residential care facilities, ambulatory health care services and home health equipment rental.
Industry Profile & Employment Trends in Polk County and Central Florida
Life Sciences & Medical Services is Polk County’s fourth largest cluster, employing nearly 21,100 workers in Q3 2007 and accounting for around 11% of total employment in Polk County. It is also one of the fastest growing clusters in the county, with an average annual growth rate of 11.7% over the last few years. Its average wages ($40,153) are well above the Q3 2007 county average.
Its three sub-clusters include Medical Equipment, Pharmaceuticals and Health and Medical Services. Medical Equipment and Pharmaceuticals together represent only about 0.3% of the cluster’s total employment, leaving Health and Medical Services as the dominant portion of the cluster.
Across the Central Florida Region, the Life Sciences & Medical Services cluster has also been growing at a rapid rate. Employment concentration ratios are highest for this cluster in Highlands, Hardee and Polk Counties; each has ratios above the national average.
Health & Medical Services comprises from 97% to 100% of the cluster’s employment in all five counties and is primarily in activities such as nursing homes, hospitals and medical centers and physicians’ offices.
Medical Equipment is a very small sub-cluster, accounting for 0% to 2% of cluster employment in the five counties.
Employment in Pharmaceuticals is almost negligible across the Central Florida region.
Life Sciences & Medical Services Sub-Cluster Employment by County
Life Sciences & Medical Services Sub-Cluster Employment
|Sub-Cluster||% of Sub-Cluster||Total Employment||# of Establishments||Average Annual Wage||Avg. Annual % Growth in Employment|
|Health & Medical Services||99.7%||21,031||593||$40,177||12.2%||2.0%|
Polk County’s existing assets are concentrated in three categories – the strength and nature of operations at local health care facilities; local educational and training institutions; and regional educational and research institutions.