Target Business Sectors

Life Sciences

 

With a growing workforce and vibrant universities and research facilities, Greater Fort Lauderdale offers an ideal ecosystem for life science companies. For decades, the area has been home to one of the most dynamic biomedical sectors in the country. Today, Allergan, Stryker and Teva are among the major medical device, biomedical, pharmaceutical and clinical research companies with R&D, manufacturing and distribution facilities in the area.

As a region, South Florida offers convenient access to leading research institutes and academic institutions. In Greater Fort Lauderdale – a longtime home for many biomedical companies – Nova Southeastern University is expanding its life science research facilities. To the north are Scripps Florida, Max Planck Florida Institute, and Torrey Pines Institute for Molecular Studies.

To the south, the University of Miami’s Miller School of Medicine and Florida International University’s Biomedical Engineering Department are investing in biomedical research and commercialization programs.

Life sciences companies also benefit from a trained 13,000-person workforce, and a value chain that includes suppliers, manufacturers, distributors, and science, technology, engineering and mathematics (STEM) workforce training programs.

A Statewide Snapshot

Florida has a growing life sciences sector with new companies, more jobs and a significant number of bioscience-related patents. A 2020 TEConomy/BIO profile notes these highlights:

• Florida ranks in the top quintile for bioscience industry employment, establishments, bioscience R&D and number of bioscience and related patents.
• 93,534 - Bioscience employment.
• 6,700 - Bioscience establishments.
• $705 million National Institute of Health funding, FY2019.
• $1.27 billion Bioscience venture capital investments, 2016-19.
• $1.53 billion - Academic bioscience R+D expenditures, FY2018.

A Collaborative Approach

South Florida's academic institutions, research parks and economic development organizations have joined together to form Life Sciences South Florida (LifeSciencesSF.org).  Its goal is to provide state, federal and private investment opportunities. The organization also facilitates the sharing of high-tech equipment and guides the development of a skilled biotechnology workforce capable of supporting cutting-edge research and commercial innovation. 

On a statewide level, BioFlorida is the voice of Florida's life sciences industry with regional chapters that represent nearly 5,500 establishments and research organizations in the biotechnology, pharmaceuticals, medical devices/diagnostics and bioagriculture sectors. BioFlorida’s initiatives provide a strong business climate for the advancement of innovative products that improve lives and promote economic benefits to the state.

Another collaborative asset is the Florida Institute for the Commercialization of Public Research, which facilitates the creation of spin-off companies from technology developed at Florida’s publicly funded research institutions. The institute provides support services, including building relationships with seasoned entrepreneurs, in order to hasten the growth of commercially viable discoveries.

A Diverse Industry Cluster

South Florida is home to approximately 1,500 bioscience businesses and institutions that generate over $4 billion in annual sales, according to recent estimates. Leading life science companies in Greater Fort Lauderdale include:

For more information about the life sciences industry focus area of Medical Equipment/Device Development and Manufacturing in Greater Fort Lauderdale, please click on "Start Prezi" below and then click on the right arrow at the bottom of the image to scroll through the presentation. 

For more information about the life sciences industry focus area of Pharmaceutical Manufacturing in Greater Fort Lauderdale, please click on "Start Prezi" below and then click on the right arrow at the bottom of the image to scroll through the presentation. 

For more information on life sciences business location and expansion, contact the Alliance's life sciences expert, Todd Holt, at 954-627-0124 or via email at tholt@gflalliance.org