Worcester Business Journal: MassBio report touts strong Central Mass. biotech industry

Aug 31, 2022

By Timothy Doyle, Worcester Business Journal

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.

Read the full story in the Worcester Business Journal.

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