Boston Business Journal: MIXED SIGNALS: Faced with conflicting signs, biotech executives are left sorting out how to plan for growth

Originally published on August 4, 2022 in the Boston Business Journal.

For years, the life sciences industry has been a major driver of job growth in Massachusetts.

The sector employed more than 106,000 people at the end of 2021, according to data cited by Kendalle Burlin O’Connell, the president and chief operating officer of the Massachusetts Biotechnology Council. That’s up 25% from 85,000 workers in 2020.

Burlin O’Connell and her colleagues expect that growth to continue. Last year, MassBio released a report projecting that 40,000 new life sciences jobs — research and development, manufacturing, and admin roles alike — would come to the Bay State by 2024.

Burlin O’Connell says that despite the crash at publicly traded biotechs, private investors have significant capital on hand. Locally, Third…
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