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With a booming biotech scene, Dallas is becoming a national choice for biotech/life sciences site selection.
Several recent Dallas successes have attracted investors looking for opportunities outside of the traditional tech hubs of Silicon Valley and Boston.
The first project, the Pegasus Park Biotech+ Hub, is a multi-disciplinary facility that focuses on the development of new technologies in the life sciences. It features a variety of digital solutions and tools that help improve the quality of life for people.
The second project, BioLab, is a new, international membership-based network of shared lab and office space that helps companies launch their biotech businesses. The Dallas location is BioLabs' first in the U.S. that isn't on the East or West Coast, where this innovation usually originates. It's also part of a growing biotechnology district that includes the University of Texas Medical Center and the University of Texas Southwestern Medical School.
Factors that make Dallas-Fort Worth a biotech hub include:
A talented workforce, 76% of graduates at UT Dallas graduate with a STEM degree.
UT Southwestern receives $400 million annually in funding from the National Institutes of Health
DFW is home to 24 Fortune 500 companies
DFW International Airport is the second largest airport in the U.S.; it’s one of only two airports in North America to have an IATA CIEV Pharma-certified cold storage logistics facility
Dallas is the fourth-most diverse city in the nation
There are 340,000 post-secondary students in Dallas-Fort Worth, and three quarters of them will remain in the region to start their careers, making DFW No. 6 in the U.S. for a retention rate of higher education graduates
UT Dallas, UT Arlington, and the University of North Texas are recognized as Carnegie R-1 institutions because of achievements in research activity
The area has $1.1 billion in venture capital funding
In addition to the City's relatively low cost of living, business-friendly environment, and continuous growth - educational institutions are supplying the talent companies are looking for, as Dallas becomes a national hub for biotech.