- Industry Analytics
- Life Sciences
The southern border of New Hampshire sits about 40 miles from Boston, MA, which is now the largest Life Sciences cluster in the world. New Hampshire is functionally connected to the Boston metro cluster yet has its own distinct role and identity within the Life Sciences industry.
Identifying the potential to increase economic prosperity and build off the base of existing Life Sciences businesses in the state, the New Hampshire Department of Business and Economic Affairs (BEA) sought to identify their market niche and evaluate how public and private support could be leveraged to expand the Life Sciences industry within the state.
The BEA hired Camoin Associates to conduct a Life Sciences Industry Assessment and Strategy, which included developing a detailed labor market analysis of the emerging markets in the Life Sciences industry and determining where and how New Hampshire was best suited to take advantage of those market forces.
The Camoin Associates’ team traveled across the state to see, first-hand, the diversity of Life Sciences businesses and the institutions that support entrepreneurs and research and development. It also completed a benchmark comparison of other leading Life Sciences metro areas across the country, which showed that New Hampshire is competitive against many of its peers in the factors that contribute to a strong Life Sciences cluster.
The release of the industry assessment and strategy in February 2023 elevated the platform of the state’s Life Sciences industry, which has begun gaining traction across the state.
The planning process also built momentum among the business community and gave BEA detailed insight into the needs of businesses across New Hampshire.
The data analysis established which industries New Hampshire should focus on for business attraction based on their assets and existing industry mix. The analysis also helped BEA evaluate how its internal structure and resources can contribute to the highest priority actions and what changes may be needed to fully support the state’s industry potential.
The report emphasized the need for private-sector-led initiatives, which will now be supported by the state’s first Life Sciences industry association, which was successfully launched in spring 2023.
Is the Life Sciences industry growing in your community?