Windy City Woos Life Sciences with Top Talent and Thriving Innovation Hub

Windy City Woos Life Sciences with Top Talent and Thriving Innovation Hub

by John Conrad| Apr 29, 2024| Member News

Chicago's reputation as a hub for innovation is gaining traction in the life sciences industry. A recent ranking placed Chicagoland in the top 10 metro centers for life sciences, and a key factor behind this recognition is the city's impressive talent pool.

Educated Workforce Fuels Growth

Chicago boasts a highly educated workforce, with nearly 18% of residents aged 25 or older holding a bachelor's degree in a life sciences-related field. This translates to roughly 1.2 million people - the fourth-largest talent pool among the ranked metros. This deep pool of qualified individuals positions Chicago as a prime location for companies in the life sciences sector.

Innovation Hub Emerges

Recognizing this strength, Chicago's real estate market is responding with the development of an innovation hub specifically catering to life sciences. While life sciences currently occupy less than 1% of Chicago's office space, this segment is flourishing. The total square footage dedicated to life sciences real estate is nearly 2.9 million, with almost half of this space being added since 2018. This surge in development reflects the growing interest in life sciences within the city and underscores Chicago's commitment to nurturing this industry.

Chicago's blend of well-educated residents and a burgeoning innovation hub is creating a fertile ground for the life sciences sector to flourish. The city is well-positioned to become a major player in this field, attracting companies and fostering the development of the next generation of groundbreaking discoveries.