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Jones Lang LaSalle Reveals 16 U.S. Regions Vying as Established or Emerging Markets for Life Sciences Industry
Date:11/28/2011

litical structures, strict patent protection laws and strong ties to top universities and other supporting infrastructures and organizations," said Bill Barrett, Executive Managing Director, Life Sciences at Jones Lang LaSalle. "While coastal hubs in the Northeast and California represent cornerstone locales and will continue to play an important role as the headquarters cities for many of the industry's largest players, other markets are steadily emerging as locations of interest."  

Rankings were based on the following criteria: percentage of total employment in high-tech research and hospital/medical fields; number of science & engineering graduate students; National Institutes of Health (NIH) funding; venture capital funding; R&D spend as a percentage of region's total state GDP; and square-footage of academic and research facilities.  To view the full chart, click here.

"Within the United States, life science-focused clusters are at various stages in their evolution, but we expect that the emerging clusters will become more competitive as we emerge from the global recession," said Richard McBlaine, Principal, Solutions Development, Life Sciences at Jones Lang LaSalle. "Ultimately, it is about the effectiveness of the discovery and innovation produced that draws additional investment."

Though market activity is picking up in most clusters, speculative construction continues to be rare in nearly all clusters demonstrating market awareness of constricted demand. However, several companies are executing large-scale built-to-suit projects, signalling a long-term commitment to their respective clusters. These include Astellas' 445,000-square-foot headquarters project in Chicago, GlaxoSmithKline's $81 million, 205,000-square-foot headquarters in Philadelphia, and Biogen's 497,000-square-feet headquarters in Cambri
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SOURCE Jones Lang LaSalle
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