Scientific laboratories and offices are a big revenue opportunity in the region, most panelists and attendees agreed at the Life Sciences 2018 Real Estate Development Symposium in New York City on June 12. The event was held in June just before the American Institute of Architects annual national meetup.

It’s especially lucrative in New York City, where Mayor Bill De Blasio’s LifeSci NYC initiative sets aside $300 million to developers for tax abatement when they build life science spaces, and another $100 million in capital spending to create an innovation hub.