Pharmaceutical companies are investing in shifting their operations to a few bioscience hotspots, even at a time of cutbacks, says this Wall Street Journal article. While cities like Boston and San Francisco are being helped by companies' relocations and the construction it entails, the suburban areas being left like New Jersey and Connecticut are not doing as well. "Companies are able to offset the high costs of operating in established clusters with the increased odds of innovation due to deep, rich talent pools and infrastructure," says a report from real-estate advisory firm Jones Lang LaSalle.
"The micro environment really matters," adds Pfizer's Rod MacKenzie. "It really is helpful if you are right next door to scientists and other institutions."