Life Sciences Sector Booms Despite Covid

Seattle’s life science cluster has been named the fifth-best in America according to a report by commercial real estate firm Newmark. The report emphasized the city’s low lab vacancy rate and recognized Seattle research institutions as being pivotal to the global COVID-19 response. In addition, it ranked the city No. 3 for venture capital investment, which has increased 200% in the Puget Sound region over the past five years.

“The Seattle life-science market is positioned to emerge as one of the premier life-science clusters in the nation given the highly educated technology and research talent that will continue to spin out of research institutions such as the University of Washington, Fred Hutchinson Cancer Research Center, Allen Institute for Brain Science and The Bill & Melinda Gates Foundation,” said Newmark Executive Managing Director Jesse Ottele.