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Forget Boston and San Francisco — Illinois is rapidly emerging as the next life sciences powerhouse. With over 15,000 life sciences firms calling it home, Illinois boasts a thriving life sciences ecosystem, ranking among the top in both the Midwest and the nation. Illinois is also ranked top 5 in the nation for producing life sciences talent, ensuring businesses that grow and expand here will have access to a powerful workforce for unlimited growth. As the industry continues to evolve, Illinois remains at the forefront of innovation, particularly in the burgeoning biotech scene.
Fueling the Future: Chicago’s Rise in Biotechnology
Chicago is rapidly becoming a major player in the biotech world, rivaling established hubs like Boston and San Francisco. Chicago ranked 10th in the U.S. for biopharma R&D employment in 2023, with 13,080 jobs, according to a CBRE report. But it reached even greater heights in biopharma manufacturing roles, ranking 3rd nationally with 60,320 workers.
The growth in biotech in the Chicago-area is undeniable, and due to a few different factors, including:
- Chan Zuckerberg Biohub: The Chan Zuckerberg Initiative chose Chicago for the Chan Zuckerberg Biohub investment of $250 million, a collaboration between the University of Chicago, University of Illinois Urbana-Champaign, and Northwestern University to advance biomedical research. The biohub, which currently has a team of 30 people, plans to double its team in 2025. Local leaders say the biohub has also elevated the collaborative spirit with the region’s universities.
- New Incubators: Biotech incubators in Chicago are providing resources and services to startup companies, including research labs, office space, and networking. Incubator Portal Innovations, for example, is home to about 50 startups in Chicago that employ approximately 250 people.
- Brand New Lab Space: At about 700,000 square feet, 2023 was Chicago’s best year in terms of leasing for R&D, manufacturing, and other biotech space. In recent years, developers have constructed new labs that help retain local entrepreneurs and their startups.
With dedication to research, expanding lab and office space, and collaboration between institutions, the Chicago area’s biotech presence will continue to rise.
Illinois: Thriving in Biotech
Illinois is a leader in life sciences and biotech, specifically in pharmaceuticals, medical manufacturing & distribution, and industrial bioscience. Illinois is home to industry leaders Abbott, AbbVie, Baxter, CSL Behring, GE Healthcare as well as a powerful emerging startup community. The state is also home to 4 of the top 10 largest medical device companies, according to the 2024 Medtech Big 100 list. With combined revenue of nearly $75 billion, Medline, GE HealthCare, Abbott, and Baxter are driving the growth of the medtech sector in the Chicago metro. Additionally, the Chicago metro ranked 6th in the nation for healthcare GRP.
Why Illinois? A Prime Location for Life Sciences
Beyond Illinois being such a strong location for life sciences and biotech, Illinois offers plenty of other factors for businesses to consider when it comes to investing and growing:
- Talent: Illinois boasts a highly skilled workforce, with 37% of Illinoisans holding a bachelor’s degree or higher. The state’s 242 higher education institutions, including top-ranked universities like the University of Chicago, University of Illinois Urbana-Champaign, and Northwestern University, ensure a steady pipeline of talent. Illinois ranks top 5 in the nation for producing life sciences talent.
- Infrastructure: Illinois’ central location and world-class infrastructure provide unparalleled access to markets. With the third-largest interstate highway network in the U.S., the most connected airport in the country (O’Hare), and a robust rail and port system, life sciences businesses can efficiently transport goods and people across the nation and the globe.
- Business Environment: Illinois is a magnet for businesses, ranking 2nd in the nation for new and expanding companies. A supportive business climate, with initiatives fostering innovation and entrepreneurship, makes Illinois the ideal location for life sciences businesses to grow and prosper. This is supported by over $1.9 billion in venture capital investment in 2023, the highest in the Midwest.
- Quality of Life: Beyond business, Illinois offers an unmatched quality of life, a low cost of living, vibrant cities like Chicago (ranked “Best Big City in the U.S.” for eight consecutive years by Condé Nast), and access to top-notch healthcare and education — all of which attracts and retains top talent in the life sciences industry.
Illinois: Leading the Future of Life Sciences
The life sciences industry in Illinois is more than just a sector; it’s a vibrant community of innovators, researchers, and entrepreneurs dedicated to improving health outcomes and driving economic growth. As the landscape evolves, Illinois stands ready to lead the charge in the next wave of scientific discovery.
Are you ready to be part of Illinois’ commitment to innovation and growth in life sciences? Contact our team today to discover how we can help your business thrive in this vibrant community.
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