Why the US East Coast is a Growing Life Sciences Hub?
East Coast, or the Atlantic Seaboard, comprises the farthest east states of the US, including New York, North Carolina, Virginia and Massachusetts. It features natural wonders and historical sites, but it's mainly gaining global attention due to its growing life sciences hubs. From making heavy investments in biomedical research and R&D to offering millions of life sciences jobs in the USA, the eastern states have positioned themselves as a leading innovation hub.
Let's discuss the growth of life sciences on the East Coast and its impacts on the country's economy!
Growing Life Sciences Hubs on the East Coast
The US life sciences or biotech industry contributed a whopping $3.2 trillion to the economy and will only increase in the next few years. Here's an overview of the East Coast states that are majorly leading this quick growth:
Massachusetts
Massachusetts is the epicentre of life sciences and has become the #1 biotech hub in the world, leaving behind a close rival, California. It's home to 1,200 life sciences companies, including top employers like Takeda, Sanofi, and Fresenius. These companies produce high-quality pharmaceuticals and other plasma-driven therapies to treat rare diseases, oncology, and gastroenterology.
Here are some other key points that shed light on the life sciences industry in Massachusetts:
- 120 top-ranked academic institutions such as MIT, Harvard, Boston University, and other research institutions pave the way for continuous innovations.
- 35 million square feet of commercial biopharma space and 700k litres of biomanufacturing capacity, which is among the highest in the world.
- Life sciences jobs in the USA (Massachusetts) topped 140,000 for the first time in 2023, and 38,000 new jobs are expected to be added by 2033.
- Abundance of life sciences talent as the state's educational institutions are 1.4 times more concentrated in life sciences than the national average.
- Produced an average of 7,600 graduates annually from 2021 to 2023 who are eager to contribute to the life sciences industry.
- Massachusetts-based companies received a massive $7.89 billion in VC funding in 2024, which accounts for 28.3% of the total VC funding.
North Carolina
North Carolina is a growing life sciences hub on the East Coast and remains one of the leading growing life sciences states in the USA. Here's an overview of further facts regarding life sciences in the state:
- North Carolina’s Life Sciences industry has exceeded 100,000 jobs and continues to grow.
- The Life Sciences industry in NC continues to generate high quality jobs with its workers earning more than an average of $121,000 per year in 2023. This exceeds that for the overall state private sector by more than $55,000 or 84%.
- North Carolina is home to the Research Triangle Park which hosts 600+ leading life Sciences companies.
New York
Another one of the growing life sciences hubs on the US East Coast is New York. It has a world-class research community, a vast pool of talent, and resources. In 2020, during COVID-19, jobs and investments in this sector reached an all-time high in New York and still play a critical role in the state's economy.
Here's an overview of the growth of the life sciences industry in this area:
- New York Metro has 5,100 life sciences companies working in biomedical and biotech fields, which is 30% more than Boston.
- The state is launching different programs, including a $620 million Life Science Initiative that will create 150,000 life sciences jobs, 14,000 more than San Francisco, to expand and commercialise its research.
- New York's state wide Cell and Gene Therapy (CGT) initiative ensures a $150 million investment in the development of the New York BioGenesis Park, where the CGT research and manufacturing will be taken to the next level.
Some other East Coast states where life sciences jobs in the USA are booming include Connecticut and Georgia.
Finding your next Life Sciences role in the East Coast of America
The East Coast is indeed an ideal place to hunt life sciences jobs in the USA. However, if you struggle to find the right employment opportunity, QCS Staffing has you covered. Get in touch with us today to explore the latest life sciences career options on the East Coast and have much-needed peace of mind! Or send us your resume.
