Published Nov 05, 2020 by Maggie Martin
Houston was recently ranked as the second leading up-and-coming life sciences market in the U.S.
CBRE said the R&D component has been the key driver behind employment in the life science sector and is one reason why Houston has become one of the top developing clusters. Houston also ranked No. 4 by life sciences employment in the report, and is one of the top 20 markets for National Institutes of Health (NIH) funding in 2019.
Houston's health care and life sciences industries collectively employ 320,500 people - more than the energy sector. The region is a hub for medical device manufacturing, pharmaceuticals and health research with more than 1,700 life sciences companies, cutting-edge health care facilities and research institutions.
The CBRE report follows major developments within Houston's life sciences infrastructure.
In June, the Levit family and Houston-developer Hines announced plans to redevelop a 52-acre site near the intersection of Texas 288 and Holcombe Blvd., property the Levit family has owned for generations. The massive new mixed-use development is slated to include a mix of office space, research facilities, retail, residential and green space. Construction on the first phase of Levit Green is slated to start next year.
In February, Texas A&M University announced a $550 million project to build a complex in the TMC. The 5.5-acre project will house the groundbreaking Engineering Medicine (EnMed) program and provide housing for medical and nursing students in Houston. It's one of Texas A&M University's more ambitious projects to date in Houston.
TMC president and CEO William "Bill" McKeon will share TMC's vision for further enhancing Houston’s position as a world leader in the health and life sciences sector at the State of the Texas Medical Center event on Thursday, December 10.
Read the full report from CBRE, "Leading Life Science Clusters: The Boom Intensifies." Learn more about Houston's life science industry. See the latest on Houston's health care employment in the November edition of "Economy at a Glance."