The Pros and Cons of 7 Top U.S. Medtech Hubs
Medtech and other major knowledge industries face a major conundrum when it comes to locating U.S. facilities: High quality of life creates a high concentration of top talent, but it also equals higher business costs.
It was a small sample size—roughly 40—but a recent Qmed/MPMN reader survey reflected this issue, with respondents pretty much split over whether medtech companies should stay or leave California.
Whether it is worth it for a medtech company to be headquartered in a high-cost state such as California or Massachusetts (or even Minnesota to a degree) depends on the type of firm. Many survey respondents noted that the states with the lowest business costs often don’t have enough scientifically educated people to populate a medical device company. Manufacturing is possible, but design and development people will not stay for long if quality of life is not high.
Here are examples of seven states that demonstrate the pros of talent and the cons of cost.
|Refresh your medical device industry knowledge at MD&M West, in Anaheim, CA, February 10-12, 2015.|
Like what you’re reading? Subscribe to our daily e-newsletter.