Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle

Los Angeles
Innovation capital
The area’s three leading universities — UCLA, University
of Southern California and UC Irvine — feature centers of
excellence that deliver cutting-edge research and innovations.
UCLA is home to the David Geffen School of Medicine,
which consistently ranks among the top 10 schools in the
United States, along with its School of Nursing, School of
Dentistry, and School of Public Health. The University of
Southern California’s Health Sciences campus is a major
center for basic and clinical biomedical research; the USC
Keck School of Medicine annually receives more than $275
million sponsored program awards. UC Irvine’s Medical
Center continues to be ranked as one of the top hospitals
in the nation and spends nearly $60 million annually to fund
ground-breaking research in the areas of neurodegenerative
diseases, cancer and stem cell therapy.
Fiscal & political resources
The area is largely supported by the efforts and programs
of the Southern California Biomedical Council, which helps
to create public-private partnerships to tackle industry needs
in the areas of capital-sourcing, public policy advocacy and
links to nearby university and research centers.
The Stem-Cell Bond Initiative, passed in 2004, provides
research grants to California universities. The initiative
authorized the sale of general obligation bonds to allocate
$3 billion over a period of 10 years to stem cell research
and research facilities.
25 Americas | Jones Lang LaSalle
Within Ventura County, the Economic
Development Collaborative, with funding
provided by the U.S. Economic Development
Administration, created a new
Business Loan Fund for entities located
within the county. Companies in the
county’s six identified core growth business
clusters (agriculture, high technology/communications,
biomedical, plastics, environmental, and metals/machinery)
that can demonstrate a need to hire a high percentage of
dislocated defense-related workers may apply for a loan.
Outlook
Near-term lab space
demands are expected
to be sparse and
come largely from
large universities and
research centers.
State government deficits may impact future public research
funding in California, but no major existing programs had been
reduced as of the 2011 fourth quarter. Near-term lab space
demands are expected to be sparse and come largely from
large universities and research centers. The development
pipeline is extremely light with no large projects expected to
be completed through late 2012.
Tof C