MassBio report touts strong Central Mass. biotech industry
Photo | Worcester Planning Board
A rendering of WuXi Biologics' facility at the Reactory in Worcester, currently under construction
The Massachusetts Biotechnology Council, or MassBio, reported in its 2022 industry snapshot that Worcester County experienced 20.4% growth in biomanufacturing jobs and 19.4% research and development jobs between 2020 and 2021, with an average salary of $122,873.
The growth in research and development jobs outpaced Middlesex, Norfolk, Suffolk, and Essex counties, while the growth in biomanufacturing jobs was greater than that of those counties minus Suffolk.
From a real estate perspective, Worcester County boasts almost 1.4 million square feet of existing biopharma inventory with vacancy rates between 0%-10.7% and 389,000 square feet in the pipeline.
The price per square foot of biopharma real estate in Worcester County is $31 to $45 compared with $94 to $97 in Middlesex County or over $100 in Suffolk County.
The MassBio study also spotlighted higher education and research institutes receiving NIH funding. UMass Chan Medical School in Worcester received the fourth most NIH funding in Massachusetts, receiving $170.5 million in 2021. This placed them behind only the Broad Institute Inc. in Cambridge, Harvard Medical School in Cambridge and the Boston University Medical Campus.
MassBio is a not-for-profit organization founded in 1985 to advance the biotech industry in Massachusetts. It currently claims over 1500 members.
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