As we gear up for the BIO 2012 International Convention coming to the BCEC June 18-21, our Life Sciences team is putting finishing touches to the first Life Sciences Cluster Report for the Boston market. Here is a peak at some of the high level analysis.
Impacts of the global economic recession, increased competition, pricing pressures, depleted new-product pipelines and heightened regulatory processes are all putting a strain profitability thus impacting facility decisions. They also create an atmosphere of change and opportunity that comes with it.
With the drive for innovation causing a rebalancing of operations, the Boston market continues to benefit from global realignment. The discovery process demands efficiency and collaboration. Boston is the elite provider providing that element of opportunity, funneled by the top universities, innovation centers, research hospitals, and venture capital firms. Most importantly, we are fueled by a strong labor force.
Greater Boston ranks first among life science clusters. The Boston MSA features more than 85,000 high tech research employees, and over 340,000 hospital and medical employees. Job growth continues to trend upward. Our region has seven times the number of workers in biotech R&D than the national average.
Stop by the Jones Lang LaSalle Life Science team’s Booth 3301 to say hello and pick up a copy of the full report.