Life Science: Great Promise & Rapid Growth

MARKET SUMMARY

North Carolina’s biotechnology industry is quickly expanding, fueled by growth in Raleigh- Durham’s life science cluster known as the Research Triangle. RTP, the largest Research Park in North America, is centrally located between the Triangle’s three Tier-1 research universities: Duke University, University of North Carolina at Chapel Hill, and North Carolina State. The Triangle is one of only seven cities in the U.S. that serves as a home to three separate leading research universities, and produces more than 53,000 graduates annually. As a direct result, life science companies can recruit top talent from the abundant pipeline of college graduates. The Raleigh-Durham market consistently ranks

among the top life science clusters because of its prolific university research base. RTP, the originator of the life science industry for the Raleigh-Durham market, houses more than 450 life science companies. Home to industry giants such as BASF Corporation, GlaxoSmithKline, and Biogen, RTP accounts for 75 percent of the region’s lab space. A favorable business climate and excellent quality of life combined with a growing entrepreneurship vibe help create a dynamic environment for entrepreneurs and high-growth companies.

(RALEIGH/DURHAM)

FAST LAB STATS

TOP TEN LIFE SCIENCE EMPLOYERS (BY REVENUE)

10.0 MSF MARKET SQUARE FOOTAGE

COMPANY

TYPE

BASF

R&D

Pfizer

Pharmaceutical

AVERAGE RENT (PER SF) $25.16 63K TOTAL EMPLOYEES* 19.3% VACANCY

GSK

R&D

Syngenta

R&D

Biogen

R&D

LabCorp

Clinical Laboratory

IQVIA

Pharmaceutical

RESEARCH TRIANGLE, NC UCB Biosciences R&D Teleflex Inc. Medical Devices

PPD

Pharmaceutical

* State of North Carolina

TOP THREE NIH-FUNDED INSTITUTIONS

DUKE UNIVERSITY $460M

UNIVERSITY OF NORTH CAROLINA, CHAPEL HILL $439M

FAMILY HEALTH INTERNATIONAL $85M

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