Jones Lang LaSalle (JLL) has issued a new report titled “Life Sciences Emerging Market Index: Poised for a Paradigm Shift,” and Nashville makes the list in one category. It’s the only one of Tennessee’s metro areas to be listed and is listed under the category of “Potential.”
The authors of the report write: “For an emerging life sciences market to reach full maturity, talent and momentum must combine and synthesize. The best way to ensure that is to provide the foundation for an appealing long-term lifestyle for young professionals, so that they will put down roots and spend their prime career years nurturing the local life sciences ecosystem. To capture potential, we examined a combination of recent GDP growth, which sets the stage for a healthy metro economy, and projections for millennial population, income and housing stock growth, all of which would attract and retain life sciences professionals.”
Nashville ranked fifth behind Charlotte, Denver, Seattle and Austin in the “Potential” category.
The report concludes with this statement: “Though Boston, San Francisco and San Diego will always occupy a vaulted place within the life sciences pantheon, the incredible dynamism of the industry is jump-starting new markets that are of growing interest to life sciences investors and companies alike thanks to their lifestyle, cost of living and demographic advantages. Prompt entry into these markets offers a robust upside as they evolve toward drawing significant public and private funding. Forward-thinking organizations have the opportunity to
take action on this data early, elevating organizational momentum, gaining access to top talent and activating their real estate potential.”