Boston has solidified its position as the global hub for life sciences innovation, making it an ideal location for SRG to expand its presence. With an unparalleled concentration of pharmaceutical, biotech, and medical device companies, along with access to world-class talent, Boston presents an exceptional opportunity for growth and expansion in the life sciences sector.
Boston: The Global Life Sciences Hub
Boston and the surrounding Cambridge area are widely regarded as the world's largest life sciences cluster. Over 1,200 biotechnology companies operate in the region, including industry giants like Moderna, Biogen, and Vertex Pharmaceuticals. The Kendall Square area alone boasts the highest density of biotech companies globally, earning it the nickname "the most innovative square mile on the planet."
The region's life sciences ecosystem is supported by robust funding infrastructure. In 2024, Massachusetts-based biopharma companies raised $7.89 billion in venture capital—$220 million more than in 2023. Additionally, Boston has led all U.S. cities in NIH funding for 22 consecutive years, with Massachusetts receiving $3.46 billion in 2024 alone.
Proximity to Top Talent
Boston's proximity to elite academic institutions such as Harvard University, MIT, and Tufts University ensures a steady pipeline of highly skilled professionals. In 2024, these institutions graduated over 8,000 students with advanced degrees in life sciences and related fields. The region boasts the highest concentration of life science professionals per capita globally, with one in every 17 workers employed in the sector as of 2024.
This talent pool is critical for life sciences companies partnering with SRG, a firm that specializes in connecting clients with top-tier candidates across research and development (R&D), clinical operations, regulatory affairs, and biopharmaceutical manufacturing roles. The average annual wage for life sciences employees in Massachusetts is $97,793, reflecting the high demand for expertise in this thriving market.
The Economic Impact of Life Sciences
The life sciences sector is a cornerstone of Boston's economy. It employs over 113,000 people statewide, with the largest portion focused on R&D. Employment in Boston's life sciences industry grew by 38% between 2010 and 2020, demonstrating sustained growth and resilience. Each new job in this sector generates an additional 0.8 jobs elsewhere in Boston's economy due to its high economic multiplier effect.
Moreover, Boston's infrastructure continues to expand to meet demand. In 2023 alone, the city added 3.5 million square feet of new lab space, with another 5 million square feet under construction as of early 2024. This growth underscores the region's capacity to support new ventures and attract global talent.
Why Boston Needs SRG
As a leader in life sciences staffing and workforce management, SRG is uniquely positioned to continue to thrive in Boston’s dynamic ecosystem. By expanding its presence here, SRG will provide:
· Access to Industry Leaders: SRG works directly with top pharmaceutical and biotech companies in the region and around the world.
· Talent Acquisition: Proximity to world-class universities ensures access to highly skilled candidates across all levels of experience, and all need support finding and preparing for their next opportunity.
· Market Prospects: With over 12,000 life sciences jobs in Boston spanning research, development, and manufacturing, SRG can tap into diverse staffing needs.
· Strategic Growth: Boston’s unparalleled innovation ecosystem provides opportunities for collaboration with cutting-edge research and more.
Conclusion
Boston’s role in life sciences innovation makes it an indispensable location for SRG as a global “Science” leader in STEM. Boston’s concentration of industry giants, robust funding ecosystem, and access to premier talent ensure that SRG can not only meet but exceed client expectations by delivering tailored workforce solutions.
Want to check out our new space? SRG invites companies and candidates to call to arrange a meeting in our new offices in Andover, MA.
