The North Shore Welcomes the Next Wave of Innovation in Massachusetts
Massachusetts is well established as the global leader in the life sciences. Our ecosystem includes companies from small startups to big pharma, as well as the academic institutions, incubators, accelerators, and investors that support them and their growing workforces. Yet, as the life sciences industry continues its rapid expansion in the region, some factors limit its potential growth. In its “State of Possible 2025 Report,” MassBio identified both scarcity and affordability of suitable space as critical structural challenges for the Commonwealth. According to this five-year strategic plan for the life sciences industry, “Extremely low vacancy rates and highest in the nation commercial and lab rents in the Cambridge/Boston cluster are crowding out both entrepreneurial and larger companies.” In addition, talent recruitment and retention are threatened by the high cost of…