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Released May 14, 2015 | SUGAR LAND
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Researched by Annette Kreuger for Industrial Info Resources (Sugar Land, Texas)--Along with its success in attracting beach lovers to the Pacific, the U.S. West Coast region has proved to be a solid draw for the life-science industry. The region, which comprises California, Washington, Oregon, Hawaii and Alaska, is on record to launch more than $1 billion in capital and MRO (maintenance) projects during second-quarter 2015.
According to Industrial Info's Pharmaceutical & Biotech Online Database, the $1 billion translates into 28 life science projects due to begin construction in the West Coast region from April through June 2015. The average investment value is $36 million, with individual investment values ranging from $1 million to $152 million.
These numbers are stunning when compared with the same timeframe in 2014, when 18 projects began construction. With the 2014 total investment value (TIV) at $250 million, and a per-project average of just $14 million, life-science activity for 2014 has jumped a whopping 300%.
Beyond the loosening of industry capital purse strings, the spike in spending is the result of various factors, including long-term projects finally being funded after years of planning. They are a blend of both industry and institutional projects, with a mix of research and manufacturing.
Click here for access to the 2015 North America Pharmaceutical & Biotech Industry Outlook.
The largest of the second-quarter projects to begin construction is the VA Puget Sound Mental Health Services & Research Building, courtesy of Uncle Sam through the U.S. Departments of Veteran Affairs in Seattle, Washington. Research and treatment at the facility will focus on mental health issues affecting veterans. The agency is spending $153 million to construct a 200,000-square-foot LEED building to house more than 100,000 square feet of mental health research space, with the remainder for treatment and administration. Project team members include Stantec (San Francisco, California) and Clark Construction (Seattle).
Bayer Healthcare Pharmaceuticals, a subsidiary of Bayer Group AG (Leverkusen, Germany), is spending $100 million at its site in Berkeley, California. The company is constructing a three-storey, 80,000-square-foot building to test Kogenate and other hemophilia products. Known as Blood Disorder Therapies Product Testing Laboratory Building 88, the project should be complete within three years. CRB Consulting Engineers (San Jose, California) and XL Construction (Milpitas, California) are the key team players.
A number of the second-quarter 2015 projects already have begun construction--or, in the case of MRO projects lasting a week or two, are already complete. As for the rest, there remains the possibility that some will be delayed, put on hold, or canceled. The individual status of each of the 28 projects will be carefully monitored for changes. As they are uncovered, new ones will be added.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five 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.
According to Industrial Info's Pharmaceutical & Biotech Online Database, the $1 billion translates into 28 life science projects due to begin construction in the West Coast region from April through June 2015. The average investment value is $36 million, with individual investment values ranging from $1 million to $152 million.
These numbers are stunning when compared with the same timeframe in 2014, when 18 projects began construction. With the 2014 total investment value (TIV) at $250 million, and a per-project average of just $14 million, life-science activity for 2014 has jumped a whopping 300%.
Beyond the loosening of industry capital purse strings, the spike in spending is the result of various factors, including long-term projects finally being funded after years of planning. They are a blend of both industry and institutional projects, with a mix of research and manufacturing.
Click here for access to the 2015 North America Pharmaceutical & Biotech Industry Outlook.
The largest of the second-quarter projects to begin construction is the VA Puget Sound Mental Health Services & Research Building, courtesy of Uncle Sam through the U.S. Departments of Veteran Affairs in Seattle, Washington. Research and treatment at the facility will focus on mental health issues affecting veterans. The agency is spending $153 million to construct a 200,000-square-foot LEED building to house more than 100,000 square feet of mental health research space, with the remainder for treatment and administration. Project team members include Stantec (San Francisco, California) and Clark Construction (Seattle).
Bayer Healthcare Pharmaceuticals, a subsidiary of Bayer Group AG (Leverkusen, Germany), is spending $100 million at its site in Berkeley, California. The company is constructing a three-storey, 80,000-square-foot building to test Kogenate and other hemophilia products. Known as Blood Disorder Therapies Product Testing Laboratory Building 88, the project should be complete within three years. CRB Consulting Engineers (San Jose, California) and XL Construction (Milpitas, California) are the key team players.
A number of the second-quarter 2015 projects already have begun construction--or, in the case of MRO projects lasting a week or two, are already complete. As for the rest, there remains the possibility that some will be delayed, put on hold, or canceled. The individual status of each of the 28 projects will be carefully monitored for changes. As they are uncovered, new ones will be added.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five 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.
