Miami is emerging as a growing hub for life sciences and biotechnology companies. Here's an overview of Miami's advantages for the life sciences industry:
Home to over 1,300 life sciences companies, many focused on medical devices, diagnostics, and biotechnology. Major companies like Beckman Coulter, Boston Scientific, and Thermo Fisher have operations.
The University of Miami and Miami-Dade College provide a steady talent pipeline with programs in biology, biomedical engineering, and health sciences.
Miami is part of the South Florida region with over 80 hospitals and numerous universities, enabling access to research institutes, clinical trials, and partnerships.
Geographically situated as a gateway to Latin America and the Caribbean, facilitating international collaboration. The diversity also supports clinical trials.
Access to venture capital and angel investors that support emerging biotech firms, including potential funding from real estate and tourism investors.
Lower costs of living and real estate compared to other large biotech hubs. No state personal income tax.
Initiatives like BioFlorida, Scripps Florida, and Max Planck Florida Institute provide networks and infrastructure tailored for life sciences.
Tropical climate reduces costs associated with extreme weather disruptions experienced in other regions.
Overall, Miami offers life sciences companies access to resources, talent, regional collaboration networks, and geographic advantages that position it well for further growth in this sector.