As two of the country's most prestigious universities for incubating innovation, Harvard and MIT have proven the epicenter of innumerable life sciences, technology and startup companies over the years, many of which have gone on to do extraordinary things with extraordinary alums at the helm. Their contributions to society are palpable; but what about their contributions to the real estate landscape in Greater Boston and beyond? How does innovation in Massachusetts affect the larger leasing economy?
Cassidy Turley, a national commercial real estate services firm that added a Boston office in 2011, decided to tackle this very question in an infographic titled, "Innovationwatch Winter 2013."
"It's not a secret that innovation is inherent in the tapestry of Greater Boston," says the infographic. "Life sciences, technology and the many start-up companies born from proximity to MIT and Harvard create significant demand for commercial space in the region."
The infographic is packed with interesting statistics on the how the Hub's penchants for innovation affects the leasing infrastructure that supports it. For example, since as far back as 1997, companies one year or younger have accounted for the vast majority of new job creation in the state, even compared with those establishments that have been in business for 25 years or more.
An analysis of the innovation-based venture capital investments and Small Business Innovation Research grants over the past 24 months yielded some intriguing finds as well, chief among them that such total funding in Cambridge -- to the tune of $1,273,826,339 -- "is equal to a stack of $100 bills two and a half times the height of the Hancock."
For more, check out the full infographic below:
What do you think of this infographic? Any surprises? Let us know in the comments section below.
