Home > Press Releases > RBJ President Bob Richards Addresses Economic Development Group From Shanghai, China

RBJ President Bob Richards Addresses Economic Development Group From Shanghai, China

Bob Richards, president of Richards Barry Joyce & Partners, recently had the pleasure of addressing an economic development group visiting the U.S. from Shanghai, China.  The Shanghai Zhangjiang Group is appointed by the Chinese government to oversee the development of a 17 square kilometer (6.6 square mile) business and technology park in Pudong, a prominent area within central Shanghai that includes part of the city’s Central Business District.

The group is in the U.S. meeting with business leaders in regions that have thriving technology clusters to gather ideas on how to replicate the success in Pudong.  Greater Boston is of particular interest to the group, given the region’s numerous technology companies, particularly along Route 128, as well as the explosive growth of the biotechnology industry in the area.

In his presentation, Bob provided a brief overview of the country’s major clusters of life sciences research, identifying Boston, Philadelphia, San Diego, Silicon Valley and Washington DC as the most notable centers of biotech activity in the country.  He then focused more closely on Boston, describing the rapid recent growth of biotechnology real estate inventory and how it is distributed between the most famous and dense clusters in Boston and Cambridge, and the more spread-out but also important clusters in Lexington and Waltham.  Lastly, he described the extent to which the Boston industry’s growth has been driven by large groups absorbing big blocks of space, such as AstraZeneca, Biogen Idec, Novartis, Shire and Vertex Pharmaceuticals.

In conversation following the formal presentation, Bob and RBJ director of research Brendan Carroll spoke further with the Shanghai Zhangjiang delegation about matters relating to the upkeep of infrastructure along Route 128, the permitting and approvals process, and the extent to which public entities become involved in providing incentives to local businesses.  The meeting ended with kind remarks and numerous invitations to Shanghai for the red-carpet treatment.  RBJ is very active in Asia – and in fact the firm is preparing to conduct its first ever Chinese transaction in 2012 – so we look forward to having the opportunity to take them up on their invitation.

Shanghai High Tech Park

Bob Richards Presents to the Shanghai Zhangjiang Group

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