New Report Names North Texas as Top Emerging Life Sciences Market
By Spencer Brewer – Staff Writer, Dallas Business Journal
A new report names Dallas-Fort Worth as a top emerging life sciences market in terms of size, institutions, talent and rapid growth alongside Nashville and Atlanta.
North Texas’ total life sciences labor pool has increased by 17% since 2019, surpassing the average national growth. Research and development employment in DFW has increased 44.5% since 2019, behind only New Haven, Connecticut and Nashville, Tennessee, according to a report from CBRE.
University of Texas Southwestern Medical Center in Dallas and the University of North Texas Health Sciences Center in Fort Worth have helped boost the North Texas region. These institutions helped produce the nation's tenth-greatest number of biological and biomedical sciences graduates in 2022.
“DFW has all of the pieces assembled to become a dominant force in the life sciences sector,” said Chelsea Story, vice president with CBRE’s Life Sciences practice in Dallas, in a prepared statement. “Our region attracted $1.6 billion in life sciences venture capital funding between 2018 and 2022, and the only limitation we have is the demand for life sciences facilities outpacing supply. Life sciences companies want to be in DFW and utilize our growing talent, and as developers continue to build and deliver new space, the sector will continue to grow.”
Read the full article on Dallas Business Journal here.