CBRE Analysis Ranks Miami Among Top 25 U.S. Life Sciences Labor Markets

A new analysis conducted by CBRE identifying the 25 top U.S. life sciences labor markets ranks Miami 22nd for life sciences research talent.

In selecting the top 25 markets, CBRE analyzed a pool of 74 cities across the U.S., assessing each market against multiple criteria including the number of life sciences jobs and graduates, share of overall job and graduate pool, number of life sciences doctorate degree holders, and concentration of jobs in the broader professional, scientific and technical services professions. The analysis produced CBRE’s inaugural ranking of the leading markets for U.S. life sciences talent.

Rank	Market	Score	Rank	Market	Score
1	Boston/Cambridge	138	14	Atlanta	103.5
2	Washington, D.C./Baltimore	129.8	15	Worcester, MA	102.6
3	San Francisco Bay Area	126.2	16	Dallas/Fort Worth	102
4	New York/New Jersey	124.3	17	Sacramento	101.8
5	San Diego	120.3	18	Austin	101.5
6	Raleigh-Durham	114.8	19	Salt Lake City	101.4
7	Los Angeles/Orange County	113.8	20	New Haven, CT	100.8
8	Philadelphia	113.5	21	Portland, OR	100.7
9	Seattle	109.4	22	Miami	100.7
10	Chicago	107.6	23	Nashville	100.6
11	Denver/Boulder	106.9	24	Albany, NY	100.3
12	Minneapolis/St. Paul	106.4	25	Pittsburgh	100
13	Houston	104.1

In Miami, 2,500 graduates earn degrees in the biological and biomedical sciences annually, the most in the southeastern U.S. The market creates the eighth highest number of graduates in biological and biomedical sciences in the U.S.

“Nothing is more important to the success of a local life sciences industry than a sturdy talent base. The Miami area has produced more biomedical degrees than the life sciences juggernaut San Francisco, and wages for these employees continues to rise. These factors keep employees here, and cause employers to evaluate their real estate needs in the sunshine state,” said David Kristjanson, a Senior Director and Life Sciences Practice Leader with CBRE.

He added, “Additionally, the market has seen continued momentum in research hospital and university collaboration, which should drive great interest from potential investors and occupiers alike.”

Between 2016 and 2021, Miami saw significant growth (34.6%) in life sciences researchers, the sixth most of any metro. The market added 1,125 positions for a total of 4,373 researchers.

Across the U.S., job growth in life sciences professions—from bioengineers and biochemists to microbiologists and data scientists—expanded by 79 percent since 2001 to roughly 500,000. In comparison, the overall U.S. job growth rate in that span was 8 percent.

“Quality and availability of labor are key considerations for any expanding industry, and that’s certainly the case for life sciences,” said Ian Anderson, CBRE’s Americas Head of Life Science and Healthcare Research. “Lab vacancy rates are tight in most markets, even amid strong construction activity. Expanding life sciences companies can choose from dozens of U.S. markets depending on their labor and real estate needs.”

To read the full report, click here.