LIFE SCIENCES
Collaborative Life Sciences Community
Collaborative Life Sciences Community
Collaborative Life Sciences Community
As one of the nation’s largest life sciences clusters, Maryland is the premier location for more than 3,400 life sciences businesses. Powering these businesses is one of the nation’s highest concentrations of PhDs and engineers, along with a healthy pipeline of professional and technical workers. Already known for its legendary workforce, Maryland became a beacon for its collaborative and innovative culture during the pandemic.
As one of the nation’s largest life sciences clusters, Maryland is the premier location for more than 3,600 life sciences businesses. Powering these businesses is one of the nation’s highest concentrations of PhDs and engineers, along with a healthy pipeline of professional and technical workers. Already known for its robust, diverse, and highly skilled talent pool, Maryland has become a leader thanks to its collaborative and innovative workforce.
Maryland offers proximity to a powerhouse supply of research and development— more than 74 federal laboratories— including the National Institutes of Health, National Institute of Standards and Technology and the Food and Drug Administration. Other major assets include more than 50 top universities, many with thriving university research parks, and 50+ incubators, accelerators and co-working spaces for Maryland innovators and international entrepreneurs.
Maryland offers proximity to a powerhouse supply of research and development— 74 federal laboratories— including the National Institutes of Health, National Institute of Standards and Technology, and the Food and Drug Administration. Other major assets include more than 50 top universities, many with thriving university research parks, and 50+ incubators, accelerators and co-working spaces for Maryland innovators and international entrepreneurs.
As one of the nation’s largest life sciences clusters, Maryland is the premier location for more than 3,400 life sciences businesses. Powering these businesses is one of the nation’s highest concentrations of PhDs and engineers, along with a healthy pipeline of professional and technical workers. Already known for its legendary workforce, Maryland became a beacon for its collaborative and innovative culture during the pandemic. Maryland offers proximity to a powerhouse supply of research and development— more than 74 federal laboratories— including the National Institutes of Health, National Institute of Standards and Technology and the Food and Drug Administration. Other major assets include more than 50 top universities, many with thriving university research parks, and 50+ incubators, accelerators and co-working spaces for Maryland innovators and international entrepreneurs.
Life Sciences Companies
Life Sciences Companies
Genetic Engineering and Biotechnology News, 2023
The state’s life sciences establishments generate $20.7 billion in economic activity, and are awarded over a billion dollars in federal contracts annually.
The state’s life sciences establishments generate $20.7 billion in economic activity, and are awarded over a billion dollars in federal contracts annually.
Therapeutic Areas of Interest
Therapeutic Areas of Interest
Colleges and Universities
Life Sciences Investments and Economic Impact
Life Sciences Investments
• Tax credit programs, like the Biotechnology Investment Incentive Tax Credit and the Innovation Investment Tax Credit, help spur investment in local life science companies by incentivizing investors with tax credits.
• Venture capitalists invested over $2B in 2021, completing three consecutive years of record setting investments in Maryland life science companies.
• Maryland’s life sciences establishments generate more than $21.8 billion in economic activity and are awarded more than $2 billion in federal contracts annually.
• VC funding ignited innovation in healthcare data, analytics and software, cancer detection and treatment, inflammatory disorders, therapeutics and wound care.
Source: Maryland Department of Commerce. Maryland life science & digital health companies drive record VC investments, 2022.
Maryland’s Strengths Provide Opportunities for Growth
• Employ 54,000 people across the industry.
• Maryland’s life sciences sector directly employs nearly 50,000 people across the industry, making up two-thirds of the state’s R&D jobs.
• The state’s life sciences manufacturing sector expanded at one of the fastest rates nationwide (31 percent).
• High concentration of employment in scientific R&D. (Two-thirds of total industry)
• Maryland is a global leader in cell therapy manufacturing, stem cell production, and vaccine development.
• The life sciences manufacturing sector expanded at one of the fastest rates nationwide (31 percent) and has significant potential for further growth.
• Maryland has the world’s largest cell therapy manufacturing facility and leads the world in adult stem cell production and vaccine R&D, with 20 percent of the world’s top influencers in vaccine development.
Source: 2021 Milken Report: Maryland Life Sciences’ National Strengths, Opportunities for Growth
Strategic Location, Affordable Living
Strategically located on the Eastern seaboard between Washington, DC and Boston, and within the nation’s prime commercial corridor, Maryland is a regional hub for transportation and distribution, assuring easy connections to major U.S. cities and markets. Maryland’s affordable living and lower cost of doing business are also key assets.
• Cost of Living in the Baltimore metropolitan area is 67% of Washington, D.C. and 41% of New York City.1
Cost of Living in the Baltimore metropolitan area is 69% of Washington, D.C. and 44% of New York City.
• Cost of Doing Business is 14.9% less than Massachusetts, 9.5% less than New Jersey and 10.3% less than California.2
Cost of Doing Business is 5% less than Massachusetts, 9.5% less than New Jersey and 6% less than California.
• Asking rental price for laboratory space averaged $30.78 per sq. ft. in the D.C.Baltimore region compared to $68.59 in San Francisco and $73.88 in the BostonCambridge region.3
• Explore more than 1,200 Maryland life science companies and industry service providers.
• Explore more than 1,900 Maryland life science companies, investors, service providers, and federal facilities.
• Examine industry sector statistics, map companies and accelerator programs.
• Examine industry sector statistics, map companies and accelerator programs.
• Increase B2B connections and find partners including research consultants, manufacturers and suppliers.
• Search for products by therapeutic phase, assets and licensing opportunities.
• Increase B2B connections and find partners including research consultants, manufacturers and suppliers.
For more information about Life Sciences in Maryland visit open.maryland.gov/lifesciences.
For more information about Life Sciences in Maryland visit Business.Maryland.gov/lifesciences
Stefanie Trop, Ph.D. Director, Life SciencesUlyana V. Desiderio, PhD Director, Life Sciences ulyana.desiderio@maryland.gov | 443-835-9038