Triangle among top life-science clusters
The Raleigh-Durham metro ranks fourth among U.S. life-science clusters, according to Chicago-based Jones Lang LaSalle Inc.’s 2014 Global Life Sciences Cluster Report. It ranks behind Boston, San Francisco and San Diego, and is in front of New York City and Los Angeles. It was also fourth last year.
The report ranks clusters based on concentration of employment, employment growth, concentration of life-science establishments, venture-capital funding, National Institutes of Health funding and patents. Its employment (21,072) is 1.2% more than last year, while number of establishments (813) grew 5.2%. It racked up $262.6 million of venture capital (3.1% of the U.S. total) and $893.1 million from the NIH (4.0% of the U.S. total). (To read BNC's report on venture-capital funding in the biotech industry, click here.)
According to the report: “The Triangle’s rich talent pool, stable socioeconomic structure, proximity to universities and high quality of life has attracted some of the big names from the life sciences sector to the region. Agro-biotech firms have displayed strong growth in the past few years. The region is already home to four of the top five ag-tech companies including Syngenta, Bayer CropScience, BASF and Monsanto. Agro-biotech being one of the strongest industries in North Carolina, the state has the natural resources to support the research and development of these firms. Bayer CropScience recently completed a greenhouse laboratory on its campus and plans to double its investment in biotechnology operations over the next 5 to 10 years. Switzerland-based firm Syngenta announced plans to expand its campus in RTP by $94.0 million, which will bring 150 new jobs by 2018. Syngenta is also expanding its crop protection and seed development operations which will bring new laboratory and office facilities to its campus.”