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Released May 19, 2016 | SUGAR LAND
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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Virtually every region of North America has a portion of the $30 billion worth of capital projects already in construction for the Pharmaceutical-Biotech Industry. A recent survey of Industrial Info's database revealed 416 North American pharma-bio projects with a cumulative total investment value (TIV) of $30.29 billion that are under construction.
The projects are scattered throughout the continent and carry an impressive average value of $72 million. Of course, that figure is skewed a bit by several billion-dollar projects included in the mix. However, the fact is, no matter the size of a Pharma-Bio Industry project, one would be hard pressed to find a location anywhere that doesn't welcome these projects with open arms, not mention generous incentive packages.
Click on image at right for a chart detailing pharma-bio projects under construction by region.
The benefits are real, no matter which sector sources the projects out. If it is from industry and adding production, then along with the construction jobs and equipment, an expansion or new build can bring new employment opportunities to the area, often at considerably higher than average pay rates.
If institutionally sourced, the obvious benefit is top-flight educational options in stunningly outfitted research laboratories. The not so apparent benefit would be the attraction of the actual industry to the area in search of intellectual capital housed within those research centers. Often partnerships emerge and commercial activity follows public investment.
Among the largest of the projects underway is the $1 billion Baxalta's (NYSE:BXLT) (Bannockburn, Illinois) 1 million-square-foot plasma fractionation facility going up in Covington, Georgia. Started while still under Baxter International (NYSE:BAX) (Deerfield, Illinois), the new plant will have purification and fill/finish suites, equipped for the manufacturing of up to 3 million liters of blood plasma-based therapeutics. In final commissioning, the plant is expected to be producing by late 2018. Both Turner Construction Company (New York, New York) and Fluor Corporation (NYSE:FLR) (Irving, Texas) are serving as co-construction managers of the project, assigned to North and South campuses respectively.
In Mason, Ohio, Procter & Gamble Company (NYSE:PG), (Cincinnati, Ohio) is building a $350 million "Beauty Innovation Center." The project is adding a 500,000 square foot building consolidating and expanding the research and development of new hair and skin care products as well as personal health and other grooming products. Pilot-Scale manufacturing capacity is included within the facility. The Hunt Group/M+ W Group Total Facility Solutions began construction in 2015, with a late 2017 completion date.
Johnson & Johnson's (NYSE:JNJ) (New Brunswick, New Jersey) Vision Care division is investing $300 million to expand contact lens production in Jacksonville, Florida. The 7th phase of a large scale expansion plan is adding a 35,000 square foot building and five new lines for the production of disposable contact lenses (including Acuvue) (currently, approximately 1.7 billion lens/year) as well as materials staging, a solvent tank farm, polymerization and other functions. Gilbane Building Company (Jacksonville, Florida) is handling construction of this project, which is due for completion later this year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
The projects are scattered throughout the continent and carry an impressive average value of $72 million. Of course, that figure is skewed a bit by several billion-dollar projects included in the mix. However, the fact is, no matter the size of a Pharma-Bio Industry project, one would be hard pressed to find a location anywhere that doesn't welcome these projects with open arms, not mention generous incentive packages.
Click on image at right for a chart detailing pharma-bio projects under construction by region.The benefits are real, no matter which sector sources the projects out. If it is from industry and adding production, then along with the construction jobs and equipment, an expansion or new build can bring new employment opportunities to the area, often at considerably higher than average pay rates.
If institutionally sourced, the obvious benefit is top-flight educational options in stunningly outfitted research laboratories. The not so apparent benefit would be the attraction of the actual industry to the area in search of intellectual capital housed within those research centers. Often partnerships emerge and commercial activity follows public investment.
Among the largest of the projects underway is the $1 billion Baxalta's (NYSE:BXLT) (Bannockburn, Illinois) 1 million-square-foot plasma fractionation facility going up in Covington, Georgia. Started while still under Baxter International (NYSE:BAX) (Deerfield, Illinois), the new plant will have purification and fill/finish suites, equipped for the manufacturing of up to 3 million liters of blood plasma-based therapeutics. In final commissioning, the plant is expected to be producing by late 2018. Both Turner Construction Company (New York, New York) and Fluor Corporation (NYSE:FLR) (Irving, Texas) are serving as co-construction managers of the project, assigned to North and South campuses respectively.
In Mason, Ohio, Procter & Gamble Company (NYSE:PG), (Cincinnati, Ohio) is building a $350 million "Beauty Innovation Center." The project is adding a 500,000 square foot building consolidating and expanding the research and development of new hair and skin care products as well as personal health and other grooming products. Pilot-Scale manufacturing capacity is included within the facility. The Hunt Group/M+ W Group Total Facility Solutions began construction in 2015, with a late 2017 completion date.
Johnson & Johnson's (NYSE:JNJ) (New Brunswick, New Jersey) Vision Care division is investing $300 million to expand contact lens production in Jacksonville, Florida. The 7th phase of a large scale expansion plan is adding a 35,000 square foot building and five new lines for the production of disposable contact lenses (including Acuvue) (currently, approximately 1.7 billion lens/year) as well as materials staging, a solvent tank farm, polymerization and other functions. Gilbane Building Company (Jacksonville, Florida) is handling construction of this project, which is due for completion later this year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
