Pharmaceutical & Biotech Industry Heats Up $217 Billion Industrial Project Construction Surge in U.S.

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Researched by Industrial Info Resources (Sugar Land, Texas)--More than 1,500 industrial projects are currently under construction in the U.S., representing about $217 billion in total investment value (TIV), according to Industrial Info's North American Industrial Database. The value of projects under construction has increased about 6% since a similar analysis was performed last year at this time. For details on last year's analysis see June 10, 2009, article - Top 10 States Account for Half of $203 Billion in U.S. Industrial Construction.

A gush in biotechnology and life-science research, and development-facility construction has jettisoned the Pharmaceutical & Biotech Industry past all other industries in the number of projects under construction. Currently, 336 Pharmaceutical & Biotech Industry projects, representing about $25 billion in TIV, are under construction in the U.S.

Click on the image at right to view a chart showing the breakdown of projects under construction by industry.

While leading in the number of projects under construction, the Pharmaceutical & Biotech Industry trails the Power Industry and Industrial Manufacturing Industry in the value of projects under construction. There are $75 billion worth of projects under construction in the Power Industry and $42 billion in the Industrial Manufacturing Industry.

Geographically, the Southwest region, with 274 projects totaling $35.5 billion, and the Great Lakes region, with 278 projects totaling $35.5 billion, are the two largest regions for industrial construction activity. However, a substantial amount of project activity is occurring in all parts of the country, including the Mid-Atlantic with $29.6 billion and the Southeast with $28.7 billion.

Earlier this month, Caithness Shepherds Flat LLC (New York, New York), a subsidiary of Piz and Company LLC (New York), began site preparation work for one of the largest projects to get under way this year. Industrial Info has tracked the $1.9 billion Shepherds Flat Windfarm near Ione, Oregon, since 2004. Completion is expected in 2013.

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