How much has the life science real estate sector grown over the past decade? In the table below we are looking at growth from 2014-2024 for life science inventory & employment. The inventory growth is for all life science properties, including manufacturing. Research employment growth is for R&D in life science, engineering and the physical sciences. Manufacturing employment includes pharmaceutical & medical equipment manufacturing. We are showing these stats for the ten states with the most life science real estate.
Interestingly, the only two states on the list with negative growth in manufacturing are California and Massachusetts. They are both clearly strong when it comes to growth in research activity, but it seems that primarily the smaller markets in other states are increasing on both the research and manufacturing side. Behind Massachusetts’ research employment growth of 110%, Texas takes an impressive second with 92%. Maryland had the highest for manufacturing employment growth and surprisingly Washington State had the highest inventory growth. The life science inventory in Washington is essentially the Seattle metro, which has grown from a little over 5 million square feet in 2014, to over 8 million in 2024.
