This year’s Top 10 are:
- San Francisco Bay Area
- New Jersey/New York
- Maryland/DC Metro
- San Diego
- Greater Philadelphia
- Los Angeles/Orange County
The combination of the Empire State and Garden State leads the nation in biopharma jobs (127,651 according to JLL), but not in VC funding (fourth with $340.097 million in 25 deals) despite the presence of Wall Street and the financial industry.
New Jersey carries the region in lab space, accounting for more than half (58.5%) of the region’s total 14.194 million square feet—good enough for third, but two notches below a year ago, thanks to stronger demand in Boston/Cambridge and the Bay Area.
New Jersey is also the region’s dominant partner in jobs (60% of the region’s total 127,651) thanks to its heritage pharma industry and a biotech segment that includes giants such as Celgene and Amicus Therapeutics, which acquired Durham, NC-based Scioderm last year.
Biotech is also growing in New York: Regeneron Pharmaceuticals continues to expand in suburban Tarrytown, NY, while New York City’s Accelerator late last year spun out its first two startups, both drug developers, Petra Pharma and Lodo Therapeutics.