DFW Becoming Powerful Player in Life Sciences Sector
A recent CBRE study revealed that the Dallas-Fort Worth metro area has grown to be the third largest life sciences market in the nation. Only Nashville and Atlanta have grown faster when one considers size, institutions, talent and rapid growth. North Texas’ total life sciences labor pool has increased by 17% since 2019, surpassing the average national growth. Research and development employment in DFW has increased 44.5% since 2019.
University of Texas Southwestern Medical Center in Dallas and the University of North Texas Health Sciences Center in Fort Worth have helped boost the North Texas region. Chelsea Story from CBRE’s Dallas office added, “Our region attracted $1.6 billion in life sciences venture capital funding between 2018 and 2022, and the only limitation we have is the demand for life sciences facilities outpacing supply.