CBRE Analysis: Florida Markets See Growth in Life Sciences Research Talent

A recent analysis conducted by CBRE noted Miami/Fort Lauderdale and Tampa experienced significant five-year growth in biological and biomedical science graduates in 2021.

CBRE evaluated each of the largest 74 U.S. life sciences labor markets against multiple criteria, including the number and concentration of life sciences researchers, number of new graduates with life sciences degrees and specifically with doctorate degrees in life sciences, concentration of all doctorate degree holders, and concentration of jobs in the broader professional, scientific, and technical services professions. The analysis produced CBRE’s second annual ranking of the leading markets for U.S. life sciences talent.

Life Sciences Talent in Florida

Miami/Fort Lauderdale among the 25 top U.S. life sciences labor markets. The region ranked 20th for life sciences research talent (previously ranked 22nd in 2022) due to the high density of researchers. As one of 15 markets with a higher growth rate than the national average (16%), Miami/Fort Lauderdale’s pool of life sciences researchers grew to 4,260 - a 19% increase between 2017 and 2022. Miami/Fort Lauderdale also produced the sixth-fastest growth rate of new life sciences graduates (3,307 graduates in 2021).

Tampa was recognized as an emerging life science talent cluster for the second consecutive year as a result of the high number of graduates in life science-related disciplines and a large amount of funding received from the National Institutes of Health (NIH). Tampa also experienced significant five-year growth from 2016 to 2021 in new life science graduates, as the city had the fourth-fastest growth rate. The market ranked 13th overall in total life science degrees obtained among all U.S. markets. Among emerging life science talent clusters, Tampa received the fourth largest amount of funding with $179 million from the NIH, only behind Columbus ($306 million), Cincinnati ($262 million) and Indianapolis ($240 million), respectively.

Life Sciences Talent across the U.S.

Nationally, the growth of U.S. life sciences researchers remains resilient in the face of economic concerns. The number of life sciences researchers in the U.S. increased by 87% over the past 20 years, compared with 14% for all U.S. occupations. Research jobs have not fallen across those 20 years, through three recessions and amid a tight labor market of recent years.

Life sciences research professions – from biochemists to epidemiologists and data scientists – increased in headcount by 3.1% in 2022 to a record 545,000 specialists. In comparison, the overall U.S. job growth rate last year was 2.2%. The continued growth in life sciences research jobs is driven by established markets such as Boston/Cambridge and the San Francisco Bay Area and emerging hubs, including Atlanta, Dallas/Fort Worth and Miami/Fort Lauderdale.

“Demand for life sciences research workers is above pre-pandemic levels,” said Matt Gardner, CBRE Advisory Services Life Sciences Leader. “We’re also seeing a closely balanced ratio of hiring to job cuts in the biopharma industry compared with the technology sector and the broader economy, which positions the life sciences to remain stable despite an economic downturn.”

CBRE’s analysis allows for examination of the industry from various angles, including shifts in the type of life science research occupations. For example, the number of digital and analytics roles has increased by 101% in the last five years due to innovation in artificial intelligence and machine learning. The industry is also experiencing a shift from chemistry to biology, resulting in a 1.2% decrease in the number of chemists over the past five years.

To read the full report, click here.