New Hampshire Life Sciences Supports Established and Emerging Industry
The life sciences industry in New Hampshire may not always receive the attention it deserves, but recent developments in the Manchester Millyard's biofabrication cluster have highlighted its significance. With a generous $44 million Build Back Better Regional Challenge Grant awarded in November 2022, efforts are underway to create a dedicated hub for biofabrication in the area.
However, the groundwork for this robust industry was laid long ago, with a diverse array of life sciences businesses already flourishing across the state. New Hampshire Life Sciences (NHLS), a nonprofit organization formed to unify industry stakeholders, is spearheading initiatives to promote and advance the sector. Founding members include significant players such as Novocure, Novo Nordisk, and Timberline Construction, all of which are committed to enhancing the life sciences landscape in the state.
A Life Sciences Industry Assessment Report released in June 2023 underscored the industry's contributions, revealing that it generated $4.3 billion in sales in 2021 and employed over 11,000 people, with an expected growth rate of 15% over the past decade.
The report highlights the importance of sectors like medical device manufacturing and research, which collectively shape New Hampshire's landscape. The region's business-friendly environment, coupled with proximity to established life sciences hubs like Cambridge, MA, supports ongoing growth.
The formation of NHLS represents a significant step in sharpening the focus on life sciences in New Hampshire. As the association aims to foster connections within the industry through networking and collaboration, it seeks to attract new talent and encourage expansion among existing businesses. Additionally, NHLS collaborates closely with the state to ensure that prospective companies have access to pertinent information about operating in New Hampshire, promoting the state's potential as a thriving life sciences hub.
In a bid to connect with the broader community, NHLS is dedicated to raising public awareness about the vital work being conducted in the industry, including advancements in medical technology and patient care. As the landscape continues to evolve, NHLS aims not only to serve its members but also to engage and inform the wider public about the crucial contributions made by life sciences organizations in New Hampshire and their impact on a global scale. The ongoing developments within this sector suggest a promising future, with NHLS poised to play a key role in shaping the industry dynamics in the state.