Labor is generally the most significant decision driver for life sciences companies in both manufacturing and research and development (R&D). Without adequate workforce, R&D becomes stagnant and manufacturing suffers from ramp-up delays, inefficiency and quality issues.
The appropriate locations for investment should provide significant talent benefits and mitigate labor risks. This is especially true when the industry has specific and unique needs such as Good Manufacturing Practices (GMP), a wide range of technologies and capabilities and regulatory requirements. By understanding the ideal labor market characteristics for a new facility, a company can significantly increase the likelihood of near and long-term success.