Those in the biopharma industry already know what the rest of the world is just starting to find out – the BioHealth Capital Region is a huge player in this field, and the cluster is only expected to grow moving forward. The goal of becoming one of the top 3 biopharma clusters in the U.S. by 2023 seems within reach, as more than 1,000 life-sciences companies already call this area home. With so much activity and so many brilliant people working so close together, great things are possible.
All the Pieces in Place
When you look at what it takes for a region to become a major player in the biopharma world, it quickly becomes obvious that the BioHealth Capital Region has everything it takes to move into the top three. For starters, there are great academic institutions such as the University of Maryland and The Johns Hopkins University. From there, you also have the presence of the FDA and the NIH, along with many other notable organizations. And, with more than 22 million square feet of lab space in the region, the capacity is certainly in place to make things happen.
Tons of Jobs
For a region to grow in terms of its prominence in biopharma, it’s necessary for there to be an abundance of quality jobs. This can be a bit of a ‘Catch 22’, as it takes jobs to attract good people, but there needs to be people in the first place to fill the initial jobs. Fortunately, BioHealth Capital is already beyond that initial stage, and there are presently plenty of opportunities to draw top talent to this part of the counter. While the exact number of jobs in the industry in this region vary based on the report you use, it’s safe to say that there are well over 40,000 – and perhaps in excess of 60,000.
A Hub of Innovation
For those just starting out in their careers, or for those with some experience who are looking for a new challenge, it is often innovation that draws their attention. In BioHealth Capital, there is plenty of that innovation taking place, and the funding to support it is here, as well. Between the venture capitalist investments and the government funding, there are abundant resources here and the sky is the limit for achievement.
Plenty of Reasons to Stay
Outside the lab, this is simply a great place for talented professionals to call home. When work is done for the day, or when the weekend arrives, the Maryland-Virginia-DC area offers an incredible amount of recreational opportunities. Whether it is exploring the vast history of the region, or getting outside to enjoy the natural beauty and great weather, it’s easy to fall in love with living here. So, in the end, not only does BioHealth Capital have a great chance to be in the top 3 by 2023, it also has a great opportunity to hold that spot over the long run as professionals in this field build their lives in the region.