Life Science: Great Promise & Rapid Growth
Baltimore is home to Johns Hopkins University, the nation’s top academic recipient of research grant funding. This gives the Maryland area a huge talent pool from which to pull when attracting top talent to the life science field. The region ranks fourth nationally for its population attaining an advanced degree. Johns Hopkins is ranked the third best medical school and the University of Maryland Baltimore County ranks fifth for Most Innovative School by U.S. News and World Report. Currently, Maryland is home to 500 core biotechnology firms, 2,260 life science companies, and numerous federal agencies. Location also plays a big part in the attractiveness of the market as 80% of the U.S.
pharmaceutical industry is within a two-hour drive of the Baltimore/DC Metro area. At the University of Maryland BioPark, Paragon Bioservices—a 28-year-old contract research and manufacturing firm that started with just two people in 1990—significantly expanded its space at the research park and also leased 138,000 sf of warehouse space near the BWI Airport for additional GMP operations. Given the lack of available lab/R&D space within the two research parks in Baltimore, developers are expected to commence construction soon on new facilities to meet demand.
TOP TEN LIFE SCIENCE EMPLOYERS (BY REVENUE)
6.5 MSF MARKET SQUARE FOOTAGE AVERAGE RENT (PER SF) $25.44 14.6K TOTAL EMPLOYEES 9.8% VACANCY FAST LAB STATS
BALTIMORE COMPANY TYPE Meridian Medical Technologies Osiris Therapeutics, Inc
Martex Biosciences, Corp
Paragon Bioservices, Inc
Nutramax Laboratories, Inc
Personal Genome Diagnostics
TOP THREE NIH-FUNDED INSTITUTIONS
JOHNS HOPKINS UNIVERSITY $663M
UNIVERSITY OF MARYLAND, BALTIMORE $170M
HUGO W MOSER INSTITUTE AT KENNEDY KRIEGER $16M
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