Gilead Sciences, Inc., a global life sciences company with a headquarters in Foster City, is one such example of a company driving the Bay Area’s economic success. Gilead is the second largest biotech employer in the Bay Area and is the 18th largest private sector employer in the region, creating high-value products and employment opportunities at all income levels. This analysis studies Gilead’s economic impact – as measured in jobs supported, gross regional product, and total economic output – on San Mateo County and the nine-county San Francisco Bay Area. Additionally, this report also analyzes Gilead’s other contributions to economic activity through philanthropy, diversity and inclusion efforts, and environmental and sustainability efforts.
The Economic Impacts of Gilead’s Master Plan Expansion
Introduction
The San Francisco Bay Area region is home to some of the most innovative and fastest-growing companies in the world. Many of these companies have a global presence, but their employment footprints in the Bay Area create significant economic impact here. With a gross regional product of nearly $1 trillion, the Bay Area is one of the most productive regions in the U.S., if not the entire globe.
Gilead Sciences, Inc., a global life sciences company with a headquarters in Foster City, is one such example of a company driving the Bay Area’s economic success. Gilead is the second largest biotech employer in the Bay Area and is the 18th largest private sector employer in the region, creating high-value products and employment opportunities at all income levels.
In Foster City, Gilead researches, develops and commercialized innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead’s presence in Foster City has benefitted from a long-standing Master Plan Expansion development agreement with the city, which has been amended to incorporate and develop the 73-acre campus to produce new offices, laboratories, and additional amenities including a state-of-the-art wellness center, cafeteria, meeting center, and other outdoor amenities. These expansion plans have resulted in an increase in employee headcount and new construction at the Foster City headquarters.
This analysis studies Gilead’s economic impact – as measured in jobs supported, gross regional product, and total economic output – on San Mateo County and the nine-county San Francisco Bay Area. Additionally, this report also analyzes Gilead’s other contributions to economic activity through philanthropy, diversity and inclusion efforts, and environmental and sustainability efforts.
To see the impacts by geography and read the report click on the links below:
San Mateo County Infographic (PDF)