New England to See More than $2.5 Billion in Projects Begin Construction in Second-Quarter 2015, with Pharma Taking Lead

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Pharmaceutical & Biotech Industry is driving more than half of the New England region's $2.54 billion in projects that are expected to begin construction in the second quarter of 2015, with a major rail project in Massachusetts also contributing heavily, according to Industrial Info's Project Database. More than 90% of the amount is attributed to three industries: Pharmaceutical & Biotech, Industrial Manufacturing and Alternative Fuels.

Click on the image at right for a graph detailing active projects scheduled to kick off in the second quarter of 2015 in the New England region by industry.

The New England region includes Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.

The Pharmaceutical & Biotech Industry is leading the charge, with more than $1.53 billion in projects set to kick off in New England in the second quarter. Among them is Boston University's $140 million addition to its University Center for Integrated Life Sciences & Engineering. The project involves constructing a seven-story, 145,000-square-foot building, which will be used for the research and teaching of biology, chemistry, biomedical engineering and related disciplines. The project is set to be completed in the fourth quarter of 2016.

The Industrial Manufacturing Industry is expected to see more than $590 million in projects kick off in the second quarter, the bulk of which is attributed to Massachusetts Bay Transportation Authority's $449 million, fourth-phase addition to the commuter rail's Green Line, which will extend services from a relocated Lechmere Station in East Cambridge to two separate points: Union Square in Somerville, and College Avenue in Medford. The 3.2-mile addition will include four new Green Line stations, as well as the widening and reconstruction of five bridges. The project is expected to be completed in the fourth quarter of 2018; for more information, see March 13, 2015, article - Railroads Say They Need More Time to Implement Safety Technology.

The Alternative Fuel Industry is in a distant third place with $200 million in projects set to begin construction, almost all of which is attributed to Beaver Wood Energy LLC's (Medway, Massachusetts) $175 million construction of a wood-pellet plant in Fair Haven, Vermont. The project involves constructing production buildings and installing a 29.5-MW steam turbine generator, with a biomass-fired, advanced stoker boiler, at a 110,000-ton-per-year fuel pellet mill. The biomass used will include wood pellets, mill waste and forest residue. Bechtel Power Construction (Frederick, Maryland) is performing project management services.

The Power Industry, which leads most other regions in total investment value for projects set to kick off in the second quarter, only comes in fourth in New England at $113 million. Its biggest project is a $43 million upgrade at GDF SUEZ Energy North America's (Houston) natural gas-fired power station in Blackstone, Massachusetts. Alstom S.A. (Levallois-Perret, France) is serving as contractor. The 30-day upgrade will include the installation of a MXL Upgrade Package to the 285-MW Alstom GT24B single-shaft combustion turbine generator. GDF SUEZ Energy North America is a subsidiary of GDF SUEZ S.A. (Paris, France).

Three-quarters of the region's total investment value--about $1.89 billion--is related to 36 projects that are now in the planning stages, where plenty of factors could increase, decrease or eliminate the expected spending. The region also has 19 projects worth about $589 million in the engineering stages, while 20 projects worth $62 million already have kicked off the first stage of construction and will kick off the next in the second quarter.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three 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.