Originally published in the Worcester Business Journal on August 30, 2022.
The Massachusetts Biotechnology Council, or MassBio, reported in its 2022 industry snapshot that Worcester County experienced 20.4% growth in biomanufacturing jobs and 19.4% research and development jobs between 2020 and 2021, with an average salary of $122,873.
The growth in research and development jobs outpaced Middlesex, Norfolk, Suffolk, and Essex counties, while the growth in biomanufacturing jobs was greater than that of those counties minus Suffolk.
From a real estate perspective, Worcester County boasts almost 1.4 million square feet of existing biopharma inventory with vacancy rates between 0%-10.7% and 389,000 square feet in the pipeline.
The price per square foot of biopharma real estate in Worcester County is $31 to $45 compared with $94 to $97 in Middlesex County or over $100 in Suffolk County.