The Massachusetts Life Sciences Sector is Looking West for Growth Opportunities
In a by-lined article in a recent issue of Banker & Tradesman, a weekly newspaper covering the real estate, banking, and commercial sectors in Massachusetts, D’Anne Hurd, WPI’s vice president for business development and legal counsel, notes that Worcester and Gateway Park, the 12-acre life-sciences-related campus WPI is co-developing near the city’s downtown, are well positioned for growth as the state’s life-sciences industry looks increasingly westward for space.
"The life sciences sector in Massachusetts is positioned for significant growth in 2008 and much of the new commercial real estate developed to handle that growth will be in the Worcester area and along the Route 495 arc," she notes. "The trend is driven by the scarcity of space for new campus-style developments in Boston and Cambridge, significantly lower rental rates in the Worcester region, and the existing critical mass of academic and commercial life sciences entities already operating in the area."
Hurd cites many assets reasons that make Central Massachusetts a desirable destination for life-sciences companies, including Gateway Park and the research and academic expertise of WPI and the UMass Medical School.
February 22, 2008