The Impact of Life Sciences in Baltimore, Maryland
Educational institutions, the healthcare industry and federal government agencies — often referred to as “Eds, Meds and Feds” — have long been identified as the core drivers of Baltimore’s economy, and the life sciences industry continues to gain momentum as an engine of growth for Charm City. This growth is due in part by the support that life sciences companies are receiving from Baltimore’s largest universities. With the advancement of commercialization efforts at Johns Hopkins and the University of Maryland, and the continued medical breakthroughs from companies spinning out of these institutions, the demand for lab space is outpacing the supply. Over the past two years, 325,000 s/f of lab space has been leased in the Baltimore area. This has propelled commercial real estate, which has forced the industry to focus on providing expertise in this type of workplace product, but more importantly speaks to the impact that life sciences is having on the Baltimore region.