Boston is a powerhouse for the life sciences industry.
The city has led the country in National Institute of Health (NIH) funding for the last 16 years, receiving more than $21 billion. Boston has it all – world-class hospitals and universities, highly educated and dedicated academics and researchers and flexible real estate options.
Two industry giants chose Boston in 2011. Vertex Pharmaceuticals, on the verge of a new drug for those suffering from cystic fibrosis, signed the largest lease in Boston’s history in the Innovation District. And Pfizer opened its world headquarters for its Centers for Therapeutic Innovation in the Longwood Medical Area (LMA), which will allow the company’s highly-skilled scientists to join with leading medical and clinical researchers and transform drug discovery.
The LMA has set the tone for Boston’s dominance of the life sciences industry. Its 210 acres are home to 14 million square feet of research, health care and academic space. It is a unique life sciences cluster that encourages innovation, research, development and collaboration. Space in the LMA remains in high demand, and it continues to grow with 4.4 million square feet of proposed development under review.
Boston’s life sciences arena extends beyond the LMA. The city has three additional clusters in Charlestown, the South End and Allston/Brighton, and a new one is gaining momentum in the Innovation District.
Vertex Pharmaceuticals will bring 1,600 employees to two new buildings on Fan Pier. The complex is currently under construction and expected to open in 2013. The company will be joining 14 life sciences ventures who call the district home already. In 2011, a newly constructed shared lab facility at 27 Drydock Ave. in the Boston Marine Industrial Park (BMIP) attracted several early stage life sciences companies, including biotech startups Novophage and CureMeta, and life/clean-tech hybrid, Cambrian Innovation. Existing tenants Immunetics and Ginkgo BioWorks expanded.
BIO International Convention
The success of these Boston life sciences clusters has been accelerated by Mayor Thomas M. Menino’s LifeTech program, created in 2004.
Operating as a part of the Boston Redevelopment Authority’s (BRA) Economic Development Department, LifeTech Boston supports life sciences companies big and small by providing site selection services, navigation of the permitting process, advocacy, financial assistance through the Boston Local Development Corporation, and direct service coordination with the BRA, city departments, and state and federal agencies. Since the creation of LifeTech, the number of life science companies in Boston has doubled and shows no signs of slowing down in 2012.
This June, Boston will host the BIO International Convention, the world’s largest annual gathering of biotech representatives. The convention will thrust the city’s life sciences industry into the spotlight, creating an opportunity to showcase Boston’s biotech industry to a projected audience of 16,000, including entrepreneurs looking for a place to land their businesses.
Boston is a breeding ground for innovation in life sciences.
The city’s strong institutions and highly educated workforce keeps it competitive in the world marketplace. The Mayor’s Office and the BRA’s LifeTech program will continue to work closely with companies in all development stages and encourage developers to construct lab space to house Boston’s next great ideas.
Martina Toponarski is the Boston Redevelopment Authority’s LifeTech manager. Email: Martina.Toponarski.bra@cityofboston.gov.
