Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle

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Washington DC / Suburban Maryland Aside from its federal backbone, the market boasts a significant inventory of existing lab space which originated primarily from a decision by Alexandria Real Estate to invest in speculative space. The growth that rewarded Alexandria came largely from research into the human genome. The companies that led the region’s development into a cluster included Human Genome Sciences, MedImmune, and Qiagen, all with strong ties to the federal government and an affinity for public-private research partnerships. The life sciences are largely clustered among suburban Montgomery County, particularly along the I–270 corridor, known locally as “DNA alley.” Within the I–270 corridor, a heavy concentration of bio-life companies is found in the Shady Grove micromarket. The J. Craig Venter Institute and Johns Hopkins (satellite campus) are both located there. Federal government facilities are found to the south in the Twinbrook, White Flint, and North Bethesda submarkets. The major landlords are Alexandria Real Estate and BioMed Realty Trust. BioMed has recently started buying product in the market, including the notable sale-leaseback of the J. Craig Venter Institute campus. BioMed also recently began speculative construction of more than 100,000 square feet in the Shady Grove submarket. 42 Americas | Jones Lang LaSalle Industry framework Intellectual capacity The Washington DC/Suburban Maryland cluster is distinctive in that it sources the vast majority of its intellectual resources from the federal government. The presence of groups such as the NIH, FDA and other agencies leads to a critical mass of top scientists who are hired by private sector companies, many of which were created by former federal employees. The region also benefits from proximity to a plethora of large educational institutions including Johns Hopkins, the University of Maryland, George Washington University, Georgetown University, George Mason University, and Catholic University. Innovation capital Johns Hopkins University is particularly active in the cluster’s development, helping to connect public and private ventures. The university is also influential through its real estate assets. As a large land-owner at the center of the dense bio-life submarket of Shady Grove, the university has influenced formation of companies by providing economical incubation space that includes federal and private sector access. Non-profits are also innovative. One notable example is Aeras; funded by the Gates Foundation, this group develops sustainable and affordable tuberculosis vaccines. Another prominent nonprofit example is the J. Craig Venter Institute, a conglomerate of research groups that is one of the leading innovators in genomic research. The Washington DC/Suburban Maryland life sciences market has benefited tremendously from the area’s large federal government presence. Tof C
Washington DC / Suburban Maryland Fiscal & political resources Several statewide programs and initiatives geared towards R&D, financial and employment support have helped to support growth in the region. Most originate with the Maryland Department of Business and Economic Development, assisted by development and advocacy efforts from organizations such as MdBio, a division of the Tech Council of Maryland. ■ Research and Development Tax Credit: Provides tax credits to businesses with qualified R&D expenses ■ Biotechnology Investment Tax Credit: Income tax credits to individuals or entities that invest $25,000 or more in a qualified Maryland biotechnology company ■ Cellulosic Ethanol Technology R&D Tax Credit: Issues state income tax credits for businesses that incur R&D expenses related to cellulosic ethanol technology ■ Economic Development Fund Grant/Loan Program: Funds private employers who retain and create jobs in Montgomery County, especially high technology and manufacturing ■ Maryland Economic Adjustment Fund: Offers financial assistance to businesses with modernized manufacturing or that develop commercial applications for technology. ■ Maryland Venture Fund: Provides direct investments in technology and life science companies and indirect investments in venture capital funds ■ TEDCO Working Capital Loan Fund: Provides loans to early stage technology-oriented companies located in the State of Maryland 43 Americas | Jones Lang LaSalle Outlook Although it is an established cluster, the Washington DC/Suburban Maryland life sciences industry is in an adolescent period. A wave of early startups has given way to mid-stage companies ripe for acquisition by major pharmaceutical companies. This market includes two of the hottest life science companies anywhere in the nation — Human Genome Sciences and MedImmune. In addition, the cluster is also home to Qiagen, Charles River Labs, SAIC, and the Henry M. Jackson Foundation — all established players. No large-scale developments are planned. While a climate of steady growth is likely, much of that growth can be accommodated by companies on or in their owned campuses and buildings. A wave of early startups has given way to mid-stage companies ripe for acquisition by major pharmaceutical companies. Tof C
Page 1 and 2: Life sciences cluster report Global
Page 3 and 4: Introduction A message from Bill Ba
Page 5 and 6: Revenue growth To increase revenue,
Page 7 and 8: = $15 billion 7 The drug and pharma
Page 9 and 10: Manufacturing Office R&D HQ Support
Page 11 and 12: India ranked third for inward direc
Page 13 and 14: Conclusion As we emerge from a peri
Page 15 and 16: United States, Canada, Brazil and P
Page 17 and 18: 4th 13.5% 8th % life science employ
Page 19 and 20: Bay Area Innovation capital For mor
Page 21 and 22: Boston Others, however, choose to k
Page 23 and 24: 13th 11.6% 8th % life science emplo
Page 25 and 26: Los Angeles Innovation capital The
Page 27 and 28: New York / New Jersey in excess of
Page 29 and 30: 2nd 14.8% 6th % life science employ
Page 31 and 32: Philadelphia Innovation capital Wit
Page 33 and 34: Raleigh Durham The Raleigh-Durham l
Page 37 and 38: San Diego Innovation capital The Sc
Page 39 and 40: Seattle Typically, life sciences te
Page 41: 12th 11.7% 3rd % life science emplo
Page 45 and 46: Atlanta In a 2009 study by Georgia
Page 47 and 48: 9th 12.3% 5th % life science employ
Page 51 and 52: 10th 12.1% % life science employmen
Page 53 and 54: Florida Industry framework Intellec
Page 55 and 56: Houston Industry framework Intellec
Page 57 and 58: 6th 13.0% % life science employment
Page 59 and 60: Indianapolis In addition, several i
Page 61 and 62: Minneapolis historically have worke
Page 63 and 64: Canada Industry framework Intellect
Page 65 and 66: 1.1% R&D expenditure (% of GDP, 200
Page 67 and 68: Emerging cluster Puerto Rico Over t
Page 69 and 70: France, Germany, Switzerland and Un
Page 71 and 72: France Pharmaceutical production is
Page 79 and 80: United Kingdom Industry framework T
Page 83 and 84: China ■ Zhongguancun (ZGC) Life S
Page 85 and 86: India The life sciences industry is
Page 87 and 88: India To support the distribution c
Page 89 and 90: Indonesia About 35 companies are fo
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Singapore Fiscal & political resour
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Emerging cluster governments in Asi
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