Colliers, a leading commercial real estate services firm, recently did its second annual analysis of the top life sciences hubs in the nation, and Philadelphia is in the top five. Strong real estate inventory and a deep pipeline of talent once again helped the Philadelphia region take fourth place in a new ranking of the country’s top life sciences hubs.

The Colliers analysis focuses on each region’s ability to support and sustain life sciences industry growth using factors such as venture capital funding, National Institutes of Health (NIH) grants and biomedical degree completions.

The analysis also factors in the life sciences real estate market, with inventory of office and lab space, amount of space under construction, and space absorbed by companies over the past three years contributing to each market’s score.

Philadelphia ranked third nationally in four metrics considered for the report: 2024 life sciences workforce (25,341), 2023 biomed graduates (3,829), lowest vacancy rate (8.5%) and percentage of inventory under construction (9.6%).

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