The New York/New Jersey market ranks No. 4 in the country in CBRE’s inaugural Life Sciences Talent Report, which identifies the top 25 life sciences labor markets in the country.
New York/New Jersey had the most annual graduates in biological and biomedical sciences in the U.S. – more than 2,000 new degrees than runner-up Los Angeles/Orange County. As a result, the market is ideal for major employers seeking the most highly educated talent.
“The New York/New Jersey region boasts some of the best research talent in the nation, produced by renowned educational institutions,” said Joseph DeRosa of CBRE in New York. “We have more chemists in New York/New Jersey than any other market in the country, as well as one of the highest number of PhDs. Our region is well poised to provide the talent for companies entering and expanding in the market.”
According to CBRE, New York/New Jersey issued 9.8% of all biological and biomedical sciences PhDs, the highest of any market in the country. Moreover, New York/New Jersey received $3.4 billion in NIH funding, the largest commitment to any market in the U.S. in 2021.
Nationally, job growth in life sciences professions – from bioengineers and biochemists to microbiologists and data scientists – expanded by 79 percent since 2001 to roughly 500,000. In comparison, the overall U.S. job growth rate in that span was 8 percent. That surge in life sciences jobs boosted mainstay markets such as Boston and San Francisco as well as emerging hubs including Nashville, Salt Lake City and Houston.
CBRE assessed each market against multiple criteria, including the number of life sciences jobs and graduates, life sciences’ share of each market’s overall job and graduate pool, its number of doctorate degree holders in life sciences, and its concentration of jobs in the broader professional, scientific and technical services professions. The analysis produced CBRE’s inaugural ranking of the leading markets for U.S. life sciences talent.
|2||Washington, D.C./Baltimore||129.8||15||Worcester, MA||102.6|
|3||San Francisco Bay Area||126.2||16||Dallas/Fort Worth||102|
|4||New York/New Jersey||124.3||17||Sacramento||101.8|
|6||Raleigh-Durham||114.8||19||Salt Lake City||101.4|
|7||Los Angeles/Orange County||113.8||20||New Haven, CT||100.8|
To read the full report, click here.
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