The Pharmaceutical-Biotech Industry currently expects 80 new facilities to complete construction over the next twelve months according to the on-line database, Industrial Info Resource's Pharmaceutical Tracker. The new sites represent a whopping $3.7 billion total investment value. The projects include the construction of manufacturing plants, research laboratories and drug distribution centers. Activity for 2007 represents a 30% increase over 2006 and the 62 plants scheduled to be completed this year. The popularity of the industry and the high-paying jobs it provides has remained strong, and as discussed in the newly released 2007 Pharmaceutical-Biotech Industry Forecast, the site selection process has become much more competitive. Cities and towns from across both the U.S. and Canada seek to land these projects. Looking beyond the initial investment, officials hope the new construction attracts other investments from the life science sector. The Mid-Atlantic region currently lays claim to the largest number of new sites, with eleven plants expected to be finished next year. The region has long been a popular choice for all sectors of the industry, as it counts Maryland, North Carolina and Virginia among its states. In a three-way tie for second place, the Great Lakes, Midwest and West Coast regions are forecast to finish construction on ten new sites each.
Enjoy curated articles directly to your inbox.