April 26, 2007
Life sciences sector strong but beset
By Matthew L. Brown
The life sciences sector contributes more to the state's growth than any other, according to the results of a new survey.
The report was released by PricewaterhouseCoopers, the Massachusetts Technology Collaborative and the New England Healthcare Institute.
Massachusetts leads the country in the number of life sciences patents, and the share of government research funding on a per capita basis. Also, life sciences firms are expanding in Massachusetts, the report found.
But its authors warn that the Commonwealth's life sciences sector is susceptible to increased competition from other states because of Massachusetts' high cost of living, shortage of affordable housing, long commutes, a diminishing pool of math and science students, and high cost of doing business.
The report concludes that Massachusetts must do more to protect its life sciences leadership. Survey respondents said the state should issue bonds to support future sector growth.
The report was released by PricewaterhouseCoopers, the Massachusetts Technology Collaborative and the New England Healthcare Institute.
Massachusetts leads the country in the number of life sciences patents, and the share of government research funding on a per capita basis. Also, life sciences firms are expanding in Massachusetts, the report found.
But its authors warn that the Commonwealth's life sciences sector is susceptible to increased competition from other states because of Massachusetts' high cost of living, shortage of affordable housing, long commutes, a diminishing pool of math and science students, and high cost of doing business.
The report concludes that Massachusetts must do more to protect its life sciences leadership. Survey respondents said the state should issue bonds to support future sector growth.
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