Maryland is Anything But Crabby over $1.7 billion in Pharmaceutical-Biotech Capital Investment

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Reported by Annette Kreuger, Industrialinfo.com (Industrial Info Resources; Sugar Land, Texas) Maryland is rapidly gaining bragging rights for a whole lot more than laying claim to the best crab cakes in the nation. The state’s success in landing 34 projects, weighing in at a hefty investment value of $1.77 billion, is sure to inspire both envy and admiration from across the country. A recent analysis of pharmaceutical-biotech capital and maintenance projects (reference: Industrial Info Resources’ Pharmaceutical Tracker - Online Database) has revealed that both the private and public sector are contributing to the influx of projects, which carry an average value of over $52 million each and are in various stages of planning, engineering or construction.

The biggest of the current crop of projects is courtesy of none other than the federal government (reference: 2006 Pharmaceutical-Biotech Forecast). Currently in the process of architect selection, plans are being made for construction of a $750 million medical research laboratory and vivarium addition for the Department of Defense. The new lab will be located at Fort Detrick in Fredrick, Maryland.

East Baltimore is about to get a facelift when the $450 million first phase of the planned Life Science and Tech Center begins construction later this spring. Tracked by Industrial Info Resources beginning in mid-2003, the project is the brainchild of East Baltimore Development Incorporated (EBDI) and plans call for an eventual investment of $800 million. In addition to providing state-of-the-art facilities for life science companies, the 80-acre development will eventually offer mixed-income housing and ultimately provide up to 6,000 jobs. The ambitious project seeks to totally redevelop Baltimore’s East Side.

The state rejoiced when MedImmune (NASDAQ:MEDI) (Gaithersburg, Maryland) decided to not only stay in Maryland, but to begin expansion plans. The biopharmaceutical company is planning to spend $250 million on the first phase of manufacturing expansion project in Fredrick, which will include construction of 330,000 square-foot building. The four-phase project could eventually near $500 million in capital investment.

While not all of the pharmaceutical-biotech projects planned for the state are worth hundreds of millions of dollars, each one in its own way is just as important. A several million-dollar investment by a company could ensure that hundreds of jobs are not lost. Construction of a new multi-disciplinary research lab on a college campus may one day lead to a cure for some currently devastating ailment. In turn, the students working in those labs will one day represent a well-educated and experienced workforce. That is a huge draw for any pharmaceutical or biotech company that is looking to invest in a new site, great crab cakes notwithstanding.

Industrial Info Resources (IIR) is a Marketing Information Service company that has been doing business for over 23 years. IIR is respected as the leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.