Salt Lake City's Life Science Ecosystem Poised for Significant Growth

Salt Lake City Life Science Ecosystem - Salt Lake City is rapidly becoming a hub for the life science industry, driven by medical innovation, a supportive business environment, and a flourishing specialized real estate market [1] - The growth is fueled by a collaborative spirit within the community, where stakeholders work together to drive excellence in the life sciences sector [1] - Colliers International's Salt Lake City office is leveraging its expertise in commercial real estate to support the burgeoning life science market, including a project to address data analysis needs in the life science workspace [1] Industry Growth and Economic Impact - The life science industry in Utah has seen impressive job growth of 5.1% annually over the last decade, with an average annual salary of $96,000 [3] - The industry contributed$21.6 billion to the state's GDP in 2022 [3] - Utah ranks third in the U.S. for the concentration of life science jobs, highlighting its emergence as a major hub [3] - Over 1,600 life science establishments operate in Utah, ranging from small startups to large companies with over 1,000 employees [3] Colliers International and Life Sciences Practice - Colliers International is a leading global diversified professional services company specializing in commercial real estate services, engineering consultancy, and investment management, with operations in 70 countries and 22,000 professionals [8][10] - The Colliers Life Sciences Practice Group in Utah offers comprehensive services tailored to the life sciences industry, including site selection, master planning, design, construction, and ongoing operations [9] - Colliers has delivered approximately 20% compound annual investment returns for shareholders over nearly 30 years, with annual revenues exceeding $4.5 billion and$99 billion of assets under management [10] Chris Kirk and Colliers Salt Lake City Office - Chris Kirk, Managing Director of Colliers International's Salt Lake City office, has nearly three decades of experience in commercial real estate, specializing in the telecommunications, defense, and life sciences sectors [4][5] - Chris is recognized for his expertise in repositioning properties to achieve maximum market visibility and for his role in strengthening Utah's economic landscape through various board memberships [5][7] - He holds the prestigious Society of Industrial and Office Realtors (SIOR) designation and is a sought-after speaker and educator in the commercial real estate industry [6]