According to a new Massachusetts Biotechnology Council report, while hiring in the biotech industry has not fully recovered from the recession, the industry is adding jobs faster in Massachusetts than the state’s economy as a whole, and the state has added more jobs in biotechnology research than any other state between 2007 and 2011. Venture capital investments in Massachusetts biotechs apparently reached an all-time high in 2011, at $1.071 billion. The state’s share of biotechnology investments still exceeds 20 percent, although 2010 marked a high with 23.1 percent. As compared to other biotechnology centers in the United States, Massachusetts saw a greater percentage of total venture capital investments in start-up and early-stage companies. The report also notes that drug companies headquartered in Massachusetts have 955 drug candidates at some stage of research and development.
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New biotech jobs in Massachusetts outpace hiring in other industries
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