Well, this one’s going to be controversial.
Real estate giant Jones Lang Lasalle just ranked Boston the top life science cluster in the country. No shock there. But rather than handing second place to San Francisco – the obvious choice – it’s claiming that the Raleigh/Durham region of North Carolina ranks second in the country.
The firm just put out a new life sciences industry trend report, and here’s how it claims the clusters shake out:
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Whether or not this methodology is sticky enough to convince the broader life sciences community of the cluster rankings, it’s certainly indication that North Carolina is upping its game substantially in the field. It’s not a total lark – the state has indeed been showing impressive and consistent life science growth.
Notably, the real estate firm points out that rent in the region is rising at a rapid clip, as well. This is indicative of an overall tightening supply in the face of high demand for real estate tailored to the life sciences:
The states receiving the most drug approvals are not reflective of the cluster trends, however. New Jersey – home to many big pharma manufacturers, leads the pack, and California, with major hubs in San Diego and San Francisco, comes in second.
Of course, the life sciences ecosystem extends well beyond the U.S. The JLL report counts the following countries as those with the highest growth potential in the life sciences:
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It’s notable that, internationally, universities are churning out more life sciences graduates than in the U.S., as evidenced in this graphic: