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Industrial Info Resources reports that North American pharmaceutical and biotechnology companies and life science research institutions are planning a $14.7-billion building boom, with more than 320 active capital projects.
According to a Feb. 15 report from Industrial Info Resources (IIR, Houston, TX, wwww.industrialinfo.com), pharmaceutical and biotechnology companies and life science research institutions are planning a building boom. The capital-projects-intelligence firm is tracking “more than 320 active projects expected to begin construction this year.” The number of projects is about flat (the 2005 figure was 322), but the total planned investment has jumped by $1.2 billion.
Capital spending in 2005 was spread throughout the continent, according to IIR, “with the Great Lakes emerging as the somewhat surprising leader, with 54 projects valued at $2.8 billion scheduled to begin construction…. Not unexpectedly, the Mid-Atlantic region was not far behind the Great Lakes in 2005 project activity. With 40 projects, carrying a value of $2.5 billion, expected to begin construction in during the year.”
For IIR’s summary, see http://www.industrialinfo.com/showNews.jsp?newsitemID=78403 (free registration required).