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For Boston Life Sciences, Climbing Housing And Transit Costs Could Be Drag Or Disaster

By September 14, 2022No Comments

Boston’s longstanding economic engine — biotech — has conferred undeniable benefits on the metro area, adding 106,000 jobs in the last year alone and bestowing a reputation as a mecca of innovation and research. But as prices rise, biotech workers increasingly struggle to cope with rising home prices and access to reliable transit.

New stats from industry trade group MassBio and BioConnects New England suggest sustained future job growth, and salary projections for many members of the workforce that fall short of what’s needed in a pricey metro like Boston. A lack of public transit makes it difficult to travel to farther-flung research labs. And while the area’s status as a U.S. leader in biotech is entrenched, there is some concern that biotech companies searching for more cost-effective solutions might look elsewhere.

Read the full story here.