BioTechs even with the latest news had shed over 1000 jobs two years ago, as it was reported by The Financial Times, WSJ, and Bloomberg that only 17 of the nearly 1300 BioTech firms were actually profitable. In 2002 the number of jobs were in the 30,000 range in Biotech. 600 layoffs came from Millennium Pharmaceuticals. And the VCs are were barely interested as they hardly even look at tech deals with all of them netting less than 3 Million in venture capital for computer software and less than 10 million in biotech in 2003. But that was then and this is now. Unemployment has dropped, money is flowing the fallout mortgage loans stopped bleeding and money is coming back for investment in all sectors. Nano and Biotech both good.
Small businesses are profitable again, college enrollment is up and we are seeing rebounding numbers in most all sectors. Boston suburbs areas are looking quite good again. Some of the largest suburb office parks which were under the gun as University, Cabot, Cummings, AMB, Canton, Northwest, Cross Point, South Shore, etc. were not seeing the attrition turn to the synergy and critical mass needed for ultimate sustainability? All this had many worried, but commerce and entrepreneurship will always find a way and they did as the buildings are starting to fill up again. Wee must count on the best and the brightest of the literary elite to make something out of nothing in the middle of being bombarded with regulators from every level of government trying to make everything, which is not equal, all the same never-the-less. God Bless them with Holly Sparklets water and wafers from Nabisco. And don’t tell me I do not know what I am talking about because we have washed those delivery vans before showing up at the Catholic Church. If it were not for all the lawyers in Boston, everybody would be out of work? Just kidding, it is not quite that bad. Things are moving along, but a lot faster now than our last surveys of 2001 and 2003.
We believe that a small business with the right market mix can survive and thrive now and probably get a pretty good deal on office space too. If you can handle the Political Correctness and the lust for literary trivia, hey go for it, take their money, they want to spend it and the customer is always right, especially in Boston, just ask them if they know what they are talking about, Think on it.