Saturday, December 03, 2022

Top life science cities: Seattle ranks No. 9 in latest ranking as industry booms in employment

According to a report released Monday by CBRE, the number of life science researchers in the Seattle area grew 24% from 2015 to 2020, part of a nationwide boom. Real estate firm ranks Seattle ninth in its ranking of the top 25 research talent groups in the US

To rank the groups, CBRE assessed factors such as the number of new graduates and existing life science researchers, which reached 12,100 in the Seattle area in 2020.

Boston, the San Francisco Bay Area, and Washington DC/Baltimore were the top three markets, respectively, and Portland, Ore., came in at 21st. The Seattle area had the seventh fastest growth rate in employment among clusters from 2015 to 2020.

CBRE researchers said in a press briefing that the future of the sector is bright despite biotech stock valuations and recent layoffs in some companies.

“If you ask almost any industry insider, they will attest to the fact that the long term prospects, the medium term prospects, even the current state of the industry is still very strong,” said CBRE Senior Director Research and Analysis by Ian Anderson. , “The fundamentals are still there. The innovation that is happening is remarkable.”

The unemployment rate for life, physical and social science occupations in the US this April was 0.6%, the second-lowest of any occupational category. Some other data from the report:

  • Job growth in the life sciences grew 79% in the US from 2001 to 2020, while overall job growth increased by 8%. 164,000 people obtained a degree or certificate in life sciences nationally in 2020, double the number in 2005.
  • Wages show little variation between cities. In Seattle, the average salary for a biochemist is $100,248.
  • The number of data scientists employed in the life sciences in the US has increased by 1,363% since 2001. In the Seattle area, 2,330 data science and mathematical professionals work in the life sciences, double the number from 2015.
  • The Puget Sound area has the fourth highest density of medical scientists, and the third highest density of data scientists among groups.

“It’s no secret that AI, machine learning and computational research are leading the way for the next generation of scientific innovation. World-class research institutions with the Puget Sound region’s deep technology roots and their dedication to commercialization have enabled Seattle to become one of the most sought-after scientific fields in the world.” in a wide range of leadership roles,” said Marcus Yamamoto, a senior vice president at CBRE in Seattle, specializing in life sciences and healthcare, in a press release.

The CBRE report is in line with a previous report by trade group Life Science Washington, which showed a 23.5% increase in life science jobs in Washington state from 2015 to 2019.

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