Life Sciences Industry Continues To Thrive

Locations attract biotech, pharmaceutical, and medical device companies by meeting their need for educated workers and access to resources.

North Carolina: Healthy Partnership

The life sciences industry is alive and thriving in North Carolina. Strategically positioned in the middle of the East Coast, the state is an ideal location for businesses specializing in biotechnology, pharmaceuticals, ag-tech, and more. But its location is far from the main reason that more and more companies are finding success here.

Life Sciences Industry Locations
More than 66,000 professionals in the life sciences workforce are actively employed, which is 55% higher than the national average. (Photo: Courtesy Economic Development Partnership of North Carolina)

Approximately 66,500 professionals in the life sciences workforce are actively employed, which is 55% higher than the national average. Additionally, the state’s low cost of labor can improve company profit margins. Compared to competitors in the life sciences, North Carolina’s labor costs are 70% less than in Massachusetts and 40% less than in California. These factors have contributed to North Carolina’s expansion in the industry, as it has grown by nearly 40% over the past decade (2012-2021).

An exceptional education system proves that this advantageous environment didn’t happen by accident. The state is a significant contributor to STEM education, as it awards more than 25,000 degrees annually, including 2,400 in the life sciences sector. Community colleges also play a large role in providing STEM programs. Notably, there’s the BioWork Certificate, which is a standardized curriculum that prepares students for process technician careers.

A significant portion of North Carolina’s talent pipeline resides in the area known as The Research Triangle. Supported by three Tier-1 research universities (Duke University, University of North Carolina at Chapel Hill, and North Carolina State University), the Triangle is home to more than 600 companies that specialize in biotechnology and pharmaceuticals. And it’s always attracting more. The North Carolina Biotechnology Center connects companies with university researchers and introduces entrepreneurs to potential funders, while the First Flight Venture Center incubates science-based technology startups.

Life sciences is an industry that focuses on preventing and curing disease, feeding the planet, and advancing a healthier way of living. The landscape for it in North Carolina is distinguished by cost competitiveness, an elite workforce, a prominent educational pipeline, and booming business clusters. Simply put, it’s a field well worth prioritizing, and it’s obvious North Carolina does.

Visit the Economic Development Partnership of North Carolina for more information, at edpnc.com.

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