SalesLeads announced today the Q4 2021 results for the new planned capital project spending report for the Pharmaceutical and BioTech industry. The Firm tracks North American planned industrial capital project activity including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 96 new projects in the Pharmaceutical sector.
Planned industrial project activity within the sector is up 6% YTD over the previous year.
The following are selected highlights on new Pharmaceutical industry construction news.
Pharmaceutical - By Project Type
Manufacturing/Processing Facilities - 62 New Projects
Laboratory Facilities - 29 New Projects
Distribution and Industrial Warehouse - 18 New Projects
Pharmaceutical - By Project Scope/Activity
New Construction - 33 New Projects
Expansion - 39 New Projects
Renovations/Equipment Upgrades - 32 New Projects
Plant Closing - 6 New Projects
Pharmaceutical - By Project Location (Top 5 States)
Massachusetts - 12
North Carolina - 9
California - 9
New York - 6
Pennsylvania - 6
Largest Planned Project
During the 4th quarter of 2021, our research team identified 12 new Pharmaceutical facility construction projects with an estimated value of $100 million or more.
The largest project is owned by Blue Star Manufacturing, LLC, who is planning to invest $714 million for the construction of a manufacturing facility in WYTHEVILLE, VA. They have recently received approval for the project.
Top 5 Tracked Pharmaceutical Projects
Biotechnology company is planning to invest $575 million for the construction of a 500,000 sf laboratory and office facility on Drexel University's campus in PHILADELPHIA, PA. Construction is expected to start in Fall 2022.
Medical glove mfr. is planning to invest $350 million for the construction of a 2.4 million manufacturing, distribution, and laboratory complex in ALVIN, TX. They have recently received approval for the project. Construction will occur in phases, with the completion of the first phase, slated for late 2022.
Pharmaceutical company is planning to invest $250 million for the construction of a 108,000 sf laboratory, processing, and office campus in VERONA, WI. Construction is expected to start in late 2021, with completion slated for early 2023.
Pharmaceutical company is planning to invest $230 million for the expansion of their processing facility in BALTIMORE, MD. Completion is slated for late 2022.
Contact lens mfr. is planning to invest $200 million for the expansion of their manufacturing facility in JACKSONVILLE, FL. They are currently seeking approval for the project.
About SalesLeads, Inc.
Since 1959, SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team.
Each month, our team delivers hundreds of industrial capital project intelligence reports within a variety of industries, including: