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At city-level, Shanghai is the lead-


ing destination for greenfield FDI in the biotechnology sector. The city came out on top in terms of job crea- tion, with an estimated 1800 biotech- nology jobs created there between June 2015 and May 2020, the highest out of all cities analysed. Shanghai also received a substantial level of capital investment during this time (an estimated $753.3m–more than double that of second-place Boston), which helped it secure its first-place ranking. Of the 15 biotechnology projects recorded in Shanghai between June 2015 and May 2020, more than half were research and development operations, more than one-quarter were in sales,marketing and support and one fifth were in manufacturing. Recent investors include US-based Invivoscribe, a pro- vider of PCR-based gene rearrange- ment, chromosome translocation, gene mutation and cancer research, which expanded its laboratory for personalised molecular medicine in May 2019 and Germany-based Boehringer Ingelheim Pharmaceuticals, a research-based pharmaceutical company,which expanded the capacity of its com- mercialmanufacturing site for bio- logics in January of the same year. Cambridge, Massachusetts takes the crown as the best biotech loca-


tion per capita.Home tomore than 100,000, the city attracted 19 bio- technology FDI projects in the previ- ously-mentioned period, second only to neighbouring Boston (23). Recent investors include Singapore-based Esco, France-based Biomunex Pharmaceuticals, and Irvine Scientific, a subsidiary of Japan’s Fujifilm. The city’s Kendall Square neighbourhood, which has been referred to as the “most innovative square mile on the planet” is a hub for numerous biotech and life sci- ences companies as well as various research institutions. The city is also home to Harvard University, the Massachusetts Institute of Technology, Lesley University, and Hult International Business School, ensuring a highly-skilled and dynamic workforce.


Methodology To compile the list of locations for this study, fDi Intelligence, a data division of the Financial Times, looked at the FDI data between June 2015 and May 2020 on fDi Markets. Locations were ranked on their record of biotechnology investment considering project numbers, capi- tal investment and job creation. The Per Capita ranking considered inward FDI in the sector per 100,000 people. ■


August/September 2020 www.fDiIntelligence.com 79


2: BUSINESS ACTIVITIES FOR INWARDFDI IN THE BIOTECHSECTOR IN THE US, JUNE 2015-MAY 2020


31.22% Sales,marketing&support 26.46% Research&development 21.69% Manufacturing 19.05% Headquarters 1.59%


Logistics, distribution&transportation Source: fDi Markets


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