According to CBRE’s new life sciences outlook report, Seattle life sciences employment and National Institutes of Health (NIH) funding have experienced rapid growth since 2019.
Seattle ranked third in metro areas for life sciences employment growth, increasing 25% from 2019 to 2022. R&D employment also showed rapid growth, a 39.3% increase. Additionally, the city had the largest increase in funding from the NIH from 2019 to 2022, increasing nearly 30%, reaching about $1.39 billion in 2022.
Life Science Washington released a report on 2022 investment activity, totaling 50 life sciences transactions raising more than $1.19 billion.
“Many metrics have receded from their 2020 and 2021 highs, but they’re still above their pre-pandemic levels. There is a lot of promising science in the works to propel this industry forward once the lending environment settles,” said Matt Gardner, CBRE’s Americas Life Sciences Leader.