Boston’s institutions of healthcare and higher education are the backbone of our economy. They are a steady engine of economic growth and a vital part of Boston’s innovation and creative sectors. Proximity to universities and hospitals, as well as a skilled workforce, are crucial for biotech companies looking for space. Even with the recent economic downturn, Boston offers companies access to all of these important resources and is still attractive to both large and small biotech/pharma.
Mayor Thomas Menino’s LifeTech Boston program was created to foster the growth of the biotech industry in Boston and build on its strengths. LifeTech Boston provides biotechnology and life sciences companies a single point of contact to assist with site location, financing, navigation of city services and sector outreach.
Innovation is key for large biotech/pharma companies to maintain shareholder value. Boston offers a very distinct competitive advantage over other cities in this area. Boston’s Longwood Medical Area (LMA), one of America’s leading centers for medicine and research and a nationally important center for education, has always been an attraction for biotech companies.
Companies recognize the advantages the LMA has to offer, particularly the opportunity for collaboration between institutions and large biotech/pharma. Kowa Co. Ltd., of Nagoya, Japan moved to the Center for Life Sciences Boston to collaborate with Brigham and Women’s Hospital on discovery and advancement in cardiovascular research.
In the next few months, Boston will continue to see investment from its healthcare institutions with the opening of the Dana Farber Yawkey Center for Cancer Care, Boston University Medical Center Ambulatory Care and the Massachusetts General Hospital Building for the Third Century. As the LMA is nearing capacity, the Boston Redevelopment Authority (BRA) has been working with developers to increase density through innovative urban design.
Innovation District
To maintain our competitive advantage, the mayor created the Innovation District (innovationdistrict.org) as the new frontier to attract new businesses to Boston. This area has huge potential to attract new biotech companies to the many approved developments that are coming online. Developers and the marketplace are responding to the increased demand from the biotech industry. Fan Pier, a mixed-used project on the waterfront, recently received approval to allow for lab space on its property to meet this growing need.
Companies such as Immunetics, Cytonome, and Ginkgo BioWorks moved to the Innovation District due to its affordability. Unlike the LMA, specific areas of the Innovation District are zoned for industrial uses, allowing for bio-manufacturing. This is attractive for biotech companies who want their research and development and manufacturing in one location.
In addition, the BRA is working closely with developers to ensure that the Innovation District is an area that supports retail, restaurants and transportation to accommodate the demands of this industry and others.
The BRA is also working closely with developers to explore the opportunities to build shared bio/clean tech space. In December, Drydock Center and Baker Design Group hosted a design charrette with seven bio/clean companies to uncover the common denominators of lab/office/workspace needs between the two disciplines.
Boston continues to be an attractive location for both large and small biotech/pharma. The city of Boston and the BRA recognize the various space needs required for biotech and pharma companies at different growth stages, and are working closely with industry developers to address these needs. The future of biotech is bright in Boston.
John F. Palmieri is director of the Boston Redevelopment Authority, www.bostonredevelopmentauthority.org
