Where biotech is booming: From Boston, to Raleigh, and beyond
- According to a survey from Jones Lang LaSalle (JLL), the more expensive the Boston biotech hub gets, the more popular of a destination it becomes, FierceBiotech reports.
- Rents in the Boston biohub are up 7.4%, compared with 2014, to $47.40 per square foot.
- The cites that rank second and third are Raleigh-Durham and San Francisco, as well as San Diego and New York City.
What's clear based on JLL's survey is that everyone wants to be in the biotech hot spots. These locations are buzzing with activity and opportunity, especially as the M&A trend continues unabated.
When JLL considered which spots were top-market for biotech companies, they considered the four following factors: the concentration of biotech employment in the metro area; VC funding; NIH funding; life sciences patents; the concentration of life sciences establishments; and employment growth.
All things considered, the results of this survey signal a strong, growing biotech sector. Now the question is which of these companies will be around in 10 years and which will deliver on their therapeutic endeavors.