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Plant(s): View 2 related plants in PECWeb
Released March 13, 2015 | SUGAR LAND
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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Bone-chilling temperatures and unrelenting snowstorms have not prevented the U.S. Northeast region from being a favorite location for every sector of the life-science industry. The region, which includes Delaware, New Jersey, New York and Pennsylvania, has 145 active capital and MRO (maintenance) projects on the books, representing $7.6 billion in total investment value (TIV), according to Industrial Info's database.
Despite the relative high cost of living in the Northeast, the aforementioned weather and lucrative incentive battles in every other part of the U.S., the region continues to be an industry magnet for investment. As found in the Industrial Info Pharmaceutical-Biotech Database, out of the region's current 145 reported capital and MRO (maintenance) projects, 77 ($3 billion TIV) have a future kick-off date. The remaining 68 ($4.6 billion TIV) are in various stages of construction, of which some have remaining bids to be let.
Click on the image a right for a chart detailing project count and value by state in the U.S. Northeast region.
The numbers are dynamic, in that as one project completes construction, another almost certainly pops up in planning. The Northeast life-science construction activity is sourced out of both the public and private sectors, with universities ponying up the funds to build the massive research centers that are needed for a multitude of reasons. Beyond basic education, these high-dollar laboratory complexes attract federal dollars and top research scientists. Ultimately, they hope to attract commercial interest from manufacturers.
While New York continues to attract the most investment, the other three states all have a fair share of activity. Even tiny Delaware is on the books, with some impressive projects. AstraZeneca (NYSE:AZN) is in the midst of a five-year, $100 million renovation of its Newark plant. The project team of CRB Consulting Engineers (Plymouth Meeting, Pennsylvania) increased production and packaging of tablets. The project will increase production of tablets (including Seroquel, Toprol-XL, Nolvadex), injectable solutions (Including Merrem IV), and oral-liquid products. The multi-phased construction schedule will run through 2019.
In New Jersey, the Vital Corporation (Fort Lee, New Jersey) is investing $20 million build a 62,000-square-foot contract manufacturing (CMO) plant able to produce nutrient pre-mixes, as well as adding a quality-control laboratory. Future plans call for the construction an additional 63,000-square-foot building to produce oral dose vitamins and over-the-counter (OTC) drug products on a contract basis.
KVK-Tech (Newton Hamilton, Pennsylvania) is planning a $50 million investment to build a CMO plant to produce capsules, powders and tablets on the site of the former Lockheed Martin (NYSE:LMT) facility. Construction could begin in early 2016, pending purchase of the site.
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.
Despite the relative high cost of living in the Northeast, the aforementioned weather and lucrative incentive battles in every other part of the U.S., the region continues to be an industry magnet for investment. As found in the Industrial Info Pharmaceutical-Biotech Database, out of the region's current 145 reported capital and MRO (maintenance) projects, 77 ($3 billion TIV) have a future kick-off date. The remaining 68 ($4.6 billion TIV) are in various stages of construction, of which some have remaining bids to be let.
Click on the image a right for a chart detailing project count and value by state in the U.S. Northeast region.The numbers are dynamic, in that as one project completes construction, another almost certainly pops up in planning. The Northeast life-science construction activity is sourced out of both the public and private sectors, with universities ponying up the funds to build the massive research centers that are needed for a multitude of reasons. Beyond basic education, these high-dollar laboratory complexes attract federal dollars and top research scientists. Ultimately, they hope to attract commercial interest from manufacturers.
While New York continues to attract the most investment, the other three states all have a fair share of activity. Even tiny Delaware is on the books, with some impressive projects. AstraZeneca (NYSE:AZN) is in the midst of a five-year, $100 million renovation of its Newark plant. The project team of CRB Consulting Engineers (Plymouth Meeting, Pennsylvania) increased production and packaging of tablets. The project will increase production of tablets (including Seroquel, Toprol-XL, Nolvadex), injectable solutions (Including Merrem IV), and oral-liquid products. The multi-phased construction schedule will run through 2019.
In New Jersey, the Vital Corporation (Fort Lee, New Jersey) is investing $20 million build a 62,000-square-foot contract manufacturing (CMO) plant able to produce nutrient pre-mixes, as well as adding a quality-control laboratory. Future plans call for the construction an additional 63,000-square-foot building to produce oral dose vitamins and over-the-counter (OTC) drug products on a contract basis.
KVK-Tech (Newton Hamilton, Pennsylvania) is planning a $50 million investment to build a CMO plant to produce capsules, powders and tablets on the site of the former Lockheed Martin (NYSE:LMT) facility. Construction could begin in early 2016, pending purchase of the site.
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.
