Buildings and Sites
Regions On Rise: Life Sciences Across US
11 Aug 2022
News, Wisconsin
A recent article in the Financial Times (July 7, 2022) discussed how New York was struggling to lure large-scale life sciences companies in the shadow of Boston, San Francisco, and San Diego, those “thriving” life sciences hubs that are “the envy of mayors and economic development planners.” New York City, bemoaned Joel Marcus of real estate firm Alexandria, is simply “too expensive to host large-scale life sciences companies.” The article countered though that after a “sluggish start,” the life sciences industry has “begun to percolate in NYC,” with a record 433,000 square feet leased to companies in the city in 2021. Nevertheless, it is interesting to note that even a commercial powerhouse like New York has a very long way to go before it can reach the heights of Boston–Cambridge, the San Francisco Bay Area, and San Diego, the biggest three life science clusters in the US.
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