The Wall Street Journal reports a significant downturn in Boston’s once-thriving biotech sector, driven by reduced venture capital and government funding, resulting in layoffs and job-seeking challenges for new Ph.D.s. Massachusetts saw a slight decline in biotech jobs in 2024, with nearly 28% of lab space in greater Boston remaining vacant. The industry is facing intense competition from other states and countries. In response, Gov. Maura Healey is advocating for a $400 million “competitiveness agenda” to boost investment and research funding.
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