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LifeScienceWorkers

Report Includes CRE Factors in Maryland Life Sciences’ Strengths, Opportunities for Growth

An independent study has found that Maryland has built one of the nation’s strongest life sciences industries and is home to the world’s largest cell therapy manufacturing facility.

The Milken Institute report recommended the exploration of the viability of additional region-specific incentives targeting the conversion of existing commercial or industrial spaces for use in small-scale, modular life sciences manufacturing in order to enhance Maryland’s entrepreneurial ecosystem and increase its attractiveness to venture capital.

The report, New Opportunities for Job Creation in Maryland’s Life Sciences Industry, identified the following strengths in addition to making recommendations for improving the sector:

● The state’s life sciences manufacturing sector expanded at one of the fastest rates nationwide (31%).

● Maryland’s life sciences industry has a substantial footprint, directly employing over 54,000 people across a wide range of jobs in R&D, manufacturing, and laboratories—more than the number of workers employed in the state’s information or real estate industries.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.