Top Biotech Cities in 2024: Thriving Hubs of Innovation

Last Updated on 

January 10, 2024

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Excedr
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The biotech industry is rapidly growing, and certain cities in the U.S. have become major hubs for innovation, investment, and job opportunities. Whether you’re looking to start your own lab, join an established company, or advance your biotech career, choosing the right city is crucial. Factors like funding availability (including National Institutes of Health (NIH) grants and venture capital), proximity to research institutions, lab space availability, and job growth play a key role in determining the best biotech cities.

In this list, we’ll explore the top cities for biotech, each offering a unique combination of resources, infrastructure, and opportunities. These cities have become leading biotech hubs, attracting top talent, investments, and companies in the life sciences sector. Whether you’re focused on drug development, diagnostics, or other biotech innovations, these cities provide a fertile ground for growth. In fact, you may already be living in one of these growing biotech hubs.

Boston – Cambridge, Massachusetts

Boston and Cambridge, Massachusetts, have long held the title of the world’s top biotech hub. The region is home to the #1 life sciences cluster, driven by its highly educated workforce, renowned research institutions like Harvard and MIT, and strong government and private funding.

Massachusetts ranks first in NIH funding and venture capital investment, providing biotech startups and established companies with unmatched access to resources. The state also offers tax incentives for biotech infrastructure and workforce development, making it an attractive location for both small and large biotech firms. The area is filled with communities and science parks, offering pre-zoned biotech sites and lab space, which is crucial for companies looking to scale quickly.

Additionally, the Boston-Cambridge region is home to 18 of the top 20 biopharma companies, making it a hotspot for collaboration and growth within the biotech sector. Though Boston ranks second in patents and third in biotech jobs, it leads in funding and lab space, solidifying its position as the go-to destination for anyone looking to make a mark in the biotech industry.

San Francisco Bay Area, California

Known to some as Biotech Bay, the San Francisco Bay Area is home to a thriving biotech and pharmaceutical industry. The region has long been a leader in technological innovation, and this influence has extended to the life sciences sector, with major companies like Genentech, Gilead, and Amgen calling the Bay Area home.

San Francisco leads the nation in patents, making it a hotspot for biotech intellectual property. Additionally, the Bay Area is home to more than 1,300 biotech companies, including a large number of startups supported by venture capital and entrepreneurship programs. The area ranks fourth in NIH funding and biotech jobs, reflecting its strong biotech presence despite its traditionally tech-focused economy.

One of the region's major advantages is its proximity to Silicon Valley, which provides access to cutting-edge technologies and partnerships between the tech and biotech sectors. This crossover of expertise allows the Bay Area to continue innovating in fields like biotechnology, pharmaceuticals, and medical devices, making it one of the best cities for biotech professionals and entrepreneurs.Los Angeles and San Diego, California. These two cities in southern California are situated in an area also known as Biotech Beach. Many life sciences and research companies such as Acadia Pharmaceuticals, Amgen, and Eli Lilly call the region home. With over 3,000 life science companies,  you will also find 25 universities, colleges, and research institutions in the area. 

For the past 5 years, San Diego has seen its life sciences industry grow by 20%. Life sciences employment grew faster in the region than total private employment. Areas such as La Jolla, Irvine, and Carlsbad are home to some of the most notable companies in the industry. San Diego ranked third in VC and 4th and patents. It places 9th in NIH funding but ranks 5th in terms of lab space and jobs.

Los Angeles & San Diego, California

Southern California, specifically Los Angeles and San Diego, is often referred to as Biotech Beach due to the region’s rapid growth in life sciences and biotechnology. Home to over 3,000 life sciences companies, this region boasts a significant presence of top biotech firms like Amgen, Eli Lilly, and Acadia Pharmaceuticals, as well as a number of promising startups.

San Diego, in particular, has seen its life sciences industry grow by 20% over the past five years, with notable companies based in areas like La Jolla, Irvine, and Carlsbad. With its proximity to 25 universities and research institutions, San Diego has become a hub for biotech innovation, bolstered by research collaborations and access to a large talent pool. Los Angeles and San Diego rank third in venture capital funding and fifth in lab space, making the region ideal for both established biotech firms and new startups. In terms of patents, San Diego ranks fourth, underscoring the region’s role in advancing scientific research and intellectual property within the biotech industry.

Chicago, Illinois

Chicago is rapidly emerging as a key player in the Midwest’s biotech industry. The city has long been a healthcare hub, home to major pharmaceutical and biotech companies such as Abbott Laboratories, Baxter International, and AveXis (acquired by Novartis in 2018 for $8.7 billion). Chicago's biotech scene is driven by cutting-edge research coming out of institutions like the University of Chicago, Northwestern University, and the University of Illinois at Chicago.

According to Genetic Engineering & Biotechnology News (GEN), the city ranks ninth in NIH funding, providing a fertile environment for biotech startups and established companies alike. In terms of NIH funding, Chicago ranks tenth, while its biotech job market is one of the strongest in the country, thanks to its deep connections to both academia and the healthcare industry. With its central location, access to world-class research institutions, and growing biotech presence, Chicago is a major contender for biotech professionals looking for opportunities in the Midwest.

Seattle, Washington

Seattle has long been known for its tech giants like Amazon and Microsoft, but in recent years, it has also gained recognition as one of the fastest-growing biotech hubs in the U.S. The region has experienced significant growth in life sciences, backed by strong funding and a culture of innovation.

Seattle ranks eighth in NIH funding and tenth in venture capital funding, with companies like Juno Therapeutics and Adaptive Biotechnologies contributing to its biotech boom. The city's proximity to major research institutions, such as the University of Washington and the Fred Hutchinson Cancer Research Center, further enhances its status as a biotech hub. These institutions collaborate closely with biotech companies to drive advancements in immunotherapy, oncology, and personalized medicine.

In addition to its high levels of patent activity, Seattle offers a thriving job market for biotech professionals, supported by the area's established tech infrastructure. The cross-pollination between tech and biotech makes Seattle a unique and rapidly evolving city for life sciences, offering diverse opportunities for researchers and entrepreneurs alike.

Philadelphia, Pennsylvania

Philadelphia has firmly established itself as a biotech powerhouse on the East Coast. With a strong foundation of more than 90 colleges and universities, including the University of Pennsylvania and Temple University, the region produces a steady stream of talent to fuel its biotech sector. Philadelphia is home to over 1,600 life sciences companies, offering a robust ecosystem for innovation and growth.

Major pharmaceutical companies such as GlaxoSmithKline (GSK) have headquarters in the Greater Philadelphia area, further cementing the city’s role as a leading biotech hub. The region ranks sixth in NIH and venture capital funding, as well as sixth in lab space and job availability within the biotech industry. This combination of funding and infrastructure makes Philadelphia a critical center for biotech research, product development, and commercialization. Philadelphia’s biotech companies are involved in a wide range of fields, from drug discovery and medical devices to advanced therapies and diagnostics, making it a highly diversified and dynamic location for life sciences professionals.

BioHealth Capital Region (Maryland, Washington D.C., Virginia)

The BioHealth Capital Region, which encompasses Maryland, Washington D.C., and Virginia, is one of the top biotech clusters in the U.S. Known for its proximity to the federal government and institutions like the National Institutes of Health (NIH) and the FDA, this region plays a pivotal role in biotechnology, medical research, and pharmaceutical development.

Maryland alone is home to over 2,000 life sciences companies, including major players like Emergent BioSolutions and Novavax, as well as a thriving ecosystem of startups and research institutions. The region ranks third in NIH funding and patents, providing extensive support for biotech innovations. The presence of prestigious universities such as Johns Hopkins University and the University of Maryland further enhances its status as a center for research and development.

Virginia, with universities like Virginia Tech and George Mason University, contributes significantly to biotech research, while Washington D.C. offers a wealth of job opportunities and is a major hub for biotech conferences and meetings. The BioHealth Capital Region ranks fourth in lab space and ninth in biotech jobs, making it a highly attractive location for life sciences professionals and entrepreneurs looking to be at the heart of biotech innovation and policy.

New York & New Jersey

New York City, already the largest metropolitan area in the U.S., has rapidly emerged as a leader in the life sciences sector. The city’s biotech ecosystem has seen a significant boost thanks to a $500 million, 10-year initiative launched in 2016 to establish NYC as a global hub for biotech research and development. The initiative has attracted top talent and investments, positioning New York as a rising star in the biotech world.

Neighboring New Jersey has long been home to major biotech and pharmaceutical companies, such as Bristol-Myers Squibb, Johnson & Johnson, and Novartis, making it a critical player in the industry. Together, New York and New Jersey rank first in biotech jobs, second in NIH funding, and third in lab space. These two states are key drivers in biotech research, with a focus on drug discovery, therapeutics, and medical technology. New York's proximity to world-class research institutions like Columbia University, NYU, and Weill Cornell Medical College, combined with New Jersey's established corporate presence, makes this region an ideal location for life sciences professionals and companies seeking to expand their reach.

Madison, Wisconsin

Madison, Wisconsin, has gained recognition as an emerging biotech center, especially in the fields of personalized medicine, genomics, and biopharmaceuticals. The city’s biotech ecosystem is fueled by the University of Wisconsin-Madison, a leading research institution that supports advancements in biotechnology, healthcare, and life sciences.

Madison benefits from strong partnerships between its educational institutions and biotech companies such as Promega and Exact Sciences, which specialize in diagnostics and molecular biology. The city also attracts substantial NIH funding and is home to several biotech startups that focus on cutting-edge research in areas such as cancer therapies and regenerative medicine. The city's affordability, collaborative research environment, and growing venture capital support make it a promising location for biotech entrepreneurs and researchers seeking to make their mark in the industry. Madison's combination of talent, research facilities, and investment is positioning it as a key player in the Midwest’s growing biotech landscape.

Phoenix, Arizona

Phoenix is fast becoming a prominent biotech hub, particularly in the areas of medical research, biopharmaceuticals, and neuroscience. The city is home to institutions like the Mayo Clinic and Barrow Neurological Institute, which are key players in advancing medical technologies and treatments.

The Phoenix Medical Quarter, a 100-acre biotech hub, is rapidly expanding and positioning the city as a leader in life sciences. The Mayo Clinic's Discovery Oasis is another major development, aimed at transforming the region into a world-class medical research center. Phoenix is drawing increasing attention for its focus on biotechnology and medical advancements, with more startups and research companies establishing themselves in the area. As Phoenix continues to invest in its biotech infrastructure, the city offers growing opportunities for biotech professionals and companies looking to make strides in fields like oncology, regenerative medicine, and advanced diagnostics. With a focus on both medical research and commercialization, Phoenix is on the rise as a key player in the biotech landscape.

Networking in Your Biotech City

Building a strong network is essential for anyone looking to advance in the biotech industry, whether you're starting a new lab, working at a biotech company, or pursuing research opportunities. Here are some strategies and resources to help you network effectively in your biotech city:

  • Attend local biotech conferences & meetups: Most major biotech hubs, including Boston, San Francisco, and Chicago, host frequent industry conferences and meetups where professionals can connect, share knowledge, and explore new opportunities. Examples include BIO International Convention, JPMorgan Healthcare Conference, and local life sciences meetups. Attending these events provides direct access to industry leaders, investors, and potential collaborators.
  • Join biotech organizations & industry associations: Organizations like MassBio, Biocom (California), and BioForward (Wisconsin) offer excellent networking opportunities. Many cities have local biotech councils that host events, offer resources, and connect professionals in the field. These organizations often have regular seminars, workshops, and networking sessions where you can meet others in your field and explore collaboration opportunities.
  • Utilize co-working & incubator spaces: In cities like San Diego, Boston, and New York, co-working and incubator spaces such as LabCentral, MBC BioLabs, and Alexandria LaunchLabs provide collaborative environments where scientists, entrepreneurs, and startups can work together. These spaces often host networking events, workshops, and pitch nights, making them a great place to build connections in a casual setting.
  • Leverage LinkedIn & social media: Platforms like LinkedIn and Twitter are powerful tools for building a biotech network, even beyond your immediate city. Joining relevant groups, following thought leaders, and participating in biotech discussions can help expand your network. LinkedIn is especially useful for finding local groups and professional associations that host in-person events.
  • Join university alumni networks & mentorship programs: If you’re an alum of a local university, many institutions offer biotech-specific alumni groups and mentorship programs. Universities such as MIT, Stanford, and Johns Hopkins have dedicated biotech alumni networks where professionals can connect, share job opportunities, and discuss industry trends.
  • Participate in biotech  accelerators: Many biotech cities are home to incubators and accelerator programs, such as Y Combinator or IndieBio in San Francisco or Johnson & Johnson’s JLABS in multiple locations. These programs provide resources and mentorship for startups and often host demo days, where you can meet investors and peers working on cutting-edge technologies.
  • Attend local university seminars & lectures: Cities with major research universities frequently host lectures, symposia, and seminars focused on biotech advancements. Universities such as Harvard, UCSF, and University of Washington are known for their biotech programming, where researchers, students, and professionals can network.

Networking is critical in biotech, as the industry thrives on collaboration, partnerships, and shared knowledge. Whether through local events, industry organizations, or social media, engaging with others in your field can lead to new opportunities, collaborations, and professional growth.

Leasing With Excedr

The biotech industry is thriving across several key cities in the U.S., each offering unique advantages for professionals and entrepreneurs looking to advance their careers or launch new ventures. From Boston’s renowned life sciences cluster to the rapidly growing biotech ecosystems in places like Phoenix and Madison, the cities featured in this list are ideal locations for accessing funding, lab space, and collaboration opportunities.

Whether you’re seeking NIH grants, venture capital funding, or looking to partner with prestigious universities, these cities provide a fertile environment for growth and innovation in biotechnology. Additionally, by leveraging networking opportunities in your city—through conferences, industry groups, or co-working spaces—you can expand your connections, foster collaborations, and stay at the forefront of biotech advancements.

No matter where you choose to establish your presence, Excedr’s equipment leasing program is here to support your lab with cost-effective solutions that help you focus on your research and business development. With the right tools, resources, and location, you can make a significant impact in the biotech industry.

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