The Massachusetts Supercluster
Massachusetts is home to a biotechnology cluster that is second to none. Complementing its outstanding biopharmaceutical companies are 122 colleges and universities - over 40 of which offer advanced degrees in the life sciences, the top five National Institutes of Health-funded hospitals in the nation, and the highest educated workforce in the U.S. that offers unparalleled skills and productivity to employers.
The latest MassBio 2015 Industry Snapshot can be downloaded here: 2015 Industry Snapshot
Massachusetts biopharma employment grew by 4.9% in 2014, the highest annual growth rate for the Massachusetts industry since 2008. Employment in the biopharma industry rose to 60,459 in 2014, approximately 2,800 jobs more than 2013, based on data from the U.S. Bureau of Labor Statistics’ Quarterly Census of Employment and Wages (QCEW).
Massachusetts also continues to far outpace the nation in biopharma manufacturing employment growth. In the last 10 years, Massachusetts biopharma manufacturing employment has grown by 28.4% to 9,989 jobs statewide. In the same time period, the United States lost 6,329 biopharma manufacturing jobs, a 2.2% decrease.
Funding & Capital
Eight of the top 14 NIH-funded independent hospitals are in Massachusetts.
Massachusetts is a small state relative to most leading NIH-recipient states. But, with its high number of research institutions, on a per capita basis Massachusetts received twice as much NIH funding as the next closest state.
Venture investment in Massachusetts rose to a record $1.8 billion in 2014, and 2015 is on track to be another banner year.
Postings for open biopharma industry positions on MassBio’s online job board are trending up, with an average daily number of listings above 2,000 jobs in 2015. MassBio.org is not a comprehensive listing of all jobs available in the industry in Massachusetts but given its significant volume, it does provide a statistically strong sampling in determining job hiring trends.
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MassBio provides expert advice and guidance to help companies find suitable locations and resources as they move to and grow in the Bay State. We make Massachusetts a better place for your business.
For more information, please email Elizabeth Steele or call (617) 674-5151.