Industrial Hotspots: North American Pharmaceutical & Biotech
Industrial Information Resources predicts a 45% increase in investments by Pharmaceutical & Biotech Industry in 2008, with $21 billion to be spread over 537 projects to begin construction this year. Regionally, the West Coast leads the way with $3.6 billion distributed over 62 projects, followed by the Mid-Atlantic region with $3.1 billion launching 71 projects. The projects being considered cover everything from annual production plant maintenance shutdowns worth $1 million in TIV all the way up to mega-projects, such as the federal government’s plans to begin construction on a $750 million infectious disease research center in Frederick, MD.
Industrial Manufacturing: Projected capital and maintenance spending numbers entering 2008 are almost identical to those seen at the beginning of 2007. Industrial Info is tracking more than 900 projects with a combined investment total of $41.8 billion that are expected to begin construction in 2008, only slightly lower than 2007’s $43 billion in spending.
Great Lakes Region: This region hosts all forms of manufacturing, from power generation to ethanol production to oil refining to automobile assembly. As a result of that diversity, 2008 appears to be yet another year of grandiose industrial spending for the region with some $60 billion worth of planned expenditures. Illinois is expected to lead the spending charge with $23.5 billion already in the planning stages. A distant second place belongs to Indiana with $13.8 billion, followed by Ohio at $8.7 billion. Rounding out the region are Michigan with $6.1 billion, Wisconsin at $4.7 billion and Kentucky at $2.7 billion.
Northeast Region: This region encompassing New York, New Jersey, Pennsylvania and Delaware is forecast to complete construction on 100 facilities throughout this year. This amounts to a gain of 7% over 2007 with 93 plants. Collectively, the combined total investment value (TIV) of projects sourced from the 2008 plants, both for original construction costs and planned future projects, is $6.7 billion.
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