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GEN Publishes 2017 Top 10 U.S. Biopharma Clusters List; New Jersey/New York Again Ranked No. 3

New Rochelle, NY, June 22, 2017 — Genetic Engineering & Biotechnology News (GEN) on June 5 published its 2017 Top 10 US Biopharma Clusters list.  New Jersey/New York is number three on the list, the same position it was on GEN’s 2016 Top 10 list.

Greater Philadelphia ranks at number seven.

GEN’s Top 10 U.S. Biopharma Clusters are:

  1. Boston-Cambridge
  2. San Francisco Bay Area
  3. New Jersey/New York
  4. San Diego
  5. Maryland, Virginia and DC Metro
  6. San Diego
  7. Greater Philadelphia
  8. Seattle
  9. Raleigh/Durham (includes Research Triangle Park)
  10. Los Angeles/Orange County
  11. Chicagoland

The only change from the 2016 list was the switched places of San Diego (#5 in 2016) and Maryland, Virginia and DC Metro.

New Jersey/New York #3

The region’s biopharma industry may emerge as winners in the ongoing political rivalry between New York Gov. Andrew Cuomo (D) and New York City Mayor Bill de Blasio (D), who is seeking re-election this year.

Both have advanced big-money cluster-building efforts: In April, Cuomo and legislative leaders agreed to include $620 million for life sciences programs in the state’s $153.1 billion budget for 2017–18, while de Blasio used a meeting with Seattle Mayor Ed Murray to restate the city’s commitment to the industry.

Back in December, de Blasio announced $500 million in incentives designed to help create 16,000 life sciences jobs.

Across the Hudson River, New Jersey in April launched a smaller incentive, the NJ CoVest Fund, designed to provide seed funding to Garden State-based early-stage life sciences and other technology companies.

New Jersey accounts for nearly 61% of the region’s jobs, helping catapult the Empire State–Garden State tandem to number-one in jobs (127,308, according to JLL).

Among growing companies is Tarrytown, NY-based Regeneron Pharmaceuticals, which in January said it will purchase its headquarters site for $720 million—a month after shelling out $50 million for an office property in nearby Sleepy Hollow, NY.

Despite being home to Wall Street and the financial industry, the region ranks only seventh in VC funding (11 deals totaling $132 million in 2016; two deals totaling $29 million in Q1).

NY–NJ fares better in patents (fifth with 3,208), and especially in lab space (12.7 million square feet) and NIH funding (third with 1,835 awards totaling about $787.3 million).

Beyond the Top 10

The 10 regions making the list this year will be very familiar to biopharma industry watchers, the regions just below the top 10 also continue to build clusters that may someday propel them to future GEN lists.

Highest among those remains Denver at No. 11, which ranked higher on two criteria—ninth in lab space (4 million square feet) and 10th in jobs (27,666, according to JLL).

GEN’s Top Cluster Criteria

GEN ranks regions based on five criteria:

  • NIH funding—Taken from the publicly available NIH RePORT database, for the current federal fiscal year, from its start on October 1, 2016, through May 23, 2017.
  • Venture Capital (VC) funding—Taken from 2016 and Q1 2017 figures furnished by the publicly available MoneyTree Report.
  • Patents—Based on the number of patents containing the word “biotechnology” awarded since 1976 in namesake cities and suburbs where key companies are located.
  • Lab space—Based on total-size-of-market figures, in millions of square feet, furnished by the commercial real estate brokerage JLL in its U.S. Life Sciences Outlook report for 2016.
  • Jobs—Based on JLL’s report. While job numbers are ranked this year compared with last year’s Top 10 US Clusters list, less weight had to be given to job totals in regions where GEN has found widespread discrepancies in job figures. However, workforce size was factored in when deciding the ultimate position of a region.

For Alex Philippidis’ full GEN story, click here.