Triangle’s demand for life sciences jobs ranks 6th in major markets, according to report

Editor’s Note: Every Wednesday, WRAL TechWire offers a story that highlights the NC Bio Jobs Hub initiative. Visit the Bio Jobs Hub for more stories and information on life sciences job opportunities that NC staff training initiatives enable. This column was originally published in September 2021, and we are re-launching it today. As Mackenzie Dixon once did, if you’re considering a career change, take a look at this upcoming event.

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TRIANGLE RESEARCH PARK – The demand for talent to fill jobs places the triangle in sixth place as a “technology cluster” in the U.S., according to a new study that tracks growth across the U.S.

The commercial real estate company CBRE only places the Raleigh-Durham market behind large, more traditional life sciences sites such as Boston, Washington, DC, San Francisco Bay, New York and San Diego. Numerous reports consistently value the Triangle for research, growth opportunities, and more in the life sciences. This new CBRE data shows how much growth is taking place here and nationally.

CBRE Executive Vice President Lee Clyburn mentioned some of the reasons why the Triangle is attracting jobs:

“The Raleigh-Durham staff has been a powerful driver of attracting and retaining life sciences companies to our market. this highlights Raleigh-Durham’s overall talent and the benefits it offers to the businesses that do business here. ”

According to the North Carolina Biotechnology Center, North Carolina “has 70,000 highly trained employees, a large community of 790 life sciences companies and 2,500 service providers, and a low cost of doing business, among many other competitive advantages.”

Most of these jobs and businesses are in and near the Triangle, and many companies have already announced expansions this year.

Triangles and states also had a prosperous year in 2021. Barry Teater told the Biotech Center: “Nineteen major expansions, relocations or new facilities have announced a nearly $ 4 billion investment and more than 4,000 jobs across the state.”

The CBRE report focused on life sciences professions such as bioengineers and biochemists for microbiologists and data scientists, and noted that the demand for talent has grown by 79% nationwide since 2001, at around 500,000 compared to 8% of all jobs.

The criteria for the report were the number of jobs and graduates in life sciences, their share of the overall jobs and graduates in each life sciences market, the number of PhDs in life sciences and the concentration of jobs in the broader professions of professional, scientific and technical services. , explained CBRE.

Main markets:

Classification The market Score Classification The market Score
1 Boston / Cambridge 138 14 Atlanta 103.5
2 Washington, DC / Baltimore 129.8 15 Worcester, MA 102.6
3 San Francisco Bay Area 126.2 16 Dallas / Fort Worth 102
4 New York / New Jersey 124.3 17 The Sacrament 101.8
5 San Diego 120.3 18 Austin 101.5
6 Raleigh-Durham 114.8 19 Salt Lake City 101.4
7 Los Angeles / Orange County 113.8 20 New Haven, CT 100.8
8 Philadelphia 113.5 21 Portland, OR 100.7
9 Seattle 109.4 22 Miami 100.7
10 Chicago 107.6 23 Nashville 100.6
11 Denver / Boulder 106.9 24 Albany, NY 100.3
12 Minneapolis / St. Paul 106.4 25 Pittsburgh 100
13 Houston 104.1

Source: CBRE

A key strength of the triangle is the growing number of people with degrees in biological and biomedical sciences, the CBRE added: “Raleigh-Durham produces doctorates in biology and biomedicine in particular. there were.

Of these graduates, 2.9% earn a doctorate, “the largest share of large markets,” CBRE said.

It helps to lower the cost of living

Despite rising housing costs (for property and rent), the Triangle is also one of the cheapest markets for workers. Raleigh-Durham only does Houston.

“Life sciences salaries don’t change geographically as much as many other industries. However, the change in the market from the cost of living market means that some markets are cheaper for life science workers than others, ”CBRE said.

The biggest gaps between the average salary in the Life Sciences and the cost of living

The market Life science wage and cost of living ratio The market Life science wage and cost of living ratio
Houston 2.04 Minneapolis / St. Paul 1.79
Raleigh-Durham 1.99 Nashville 1.78
Atlanta 1.90 Chicago 1.76
Dallas / Fort Worth 1.86 Austin 1.76
Philadelphia 1.79 The Sacrament 1.76

Source: CBRE

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