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While the Mass Impact study will include comprehensive data for life sciences companies throughout Massachusetts, a brief look within the city limits of Boston and Cambridge indicates that the greatest density of companies in this industry is located in a few square blocks in Cambridge. Similar clusters, while not as large or dense, are also emerging in suburbs along Route 128 and in the Worcester area.
A preliminary analysis of the 146 public and private life sciences companies located in Boston and Cambridge reveals the following data:
- 64 percent (93 companies) of the 146 companies surveyed in Boston and Cambridge are located in three zip codes: 02139 (Central Square/MIT), 02142 (Kendall Square/MIT) and 02138 (Harvard Square). More than 50 of these companies are located in the 02139 region alone.
- 51 percent of the private life sciences companies in business in July 2004 were started after 2000.
- 55 percent of the public life sciences companies in Boston and Cambridge have their headquarters in one of these cities. The others have offices, labs or other ancillary operations at these locations.
- The revenue of the public companies has grown by almost 60 percent between 2001 and 2003, from almost $2 billion to more than $3.1 billion.
- Approximately 10,000 employees work for those public life sciences companies with headquarters in Boston or Cambridge; an additional estimated 2,200 are employed by public life science companies with other (non-HQ) offices in Boston or Cambridge.