Texas Leads for Emerging Life Science Clusters
Although Texas isn’t home to the largest life science market nationally, it leads the way for emerging markets in this sector. So says CBRE, which ranks Houston, Austin and Dallas/Ft. Worth among the top 10 emerging life science clusters in the United States. Houston ranks second, just after Pittsburgh, Austin ranks third and Dallas/Ft. Worth ranks sixth. Rounding out the top 10 are fourth-place Detroit, fifth-place Phoenix, and St. Louis. Atlanta, Portland and Minneapolis taking seventh through 10th place.
CBRE reports that Houston and Dallas/Ft. Worth are among the fastest-growing U.S. markets for life sciences employment. Both markets also rank among the largest U.S. life science clusters by current employment.
Both Dallas/Ft. Worth and Austin rank among the top U.S. life science venture capital investment markets, according to CBRE’s Leading Life Science Clusters report. Additionally, Houston is among the top 20 U.S. markets for 2019 NIH funding.