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  • Posted On Wednesday, February 07, 2024 by Evan Lamolinara

    Pharmacy2023

    SalesLeads announced today the Q4 2023 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 61 new projects in the Pharmaceutical sector.

    Planned industrial project activity within the sector is down 38% YTD over the previous year.

    The following are selected highlights on new Pharmaceutical industry construction news.

    Pharmaceutical - By Project Type

              Manufacturing/Processing Facilities - 43 New Projects

              Laboratory Facilities - 21 New Projects

              Distribution and Industrial Warehouse - 19 New Projects

    Pharmaceutical - By Project Scope/Activity

              New Construction - 14 New Projects

              Expansion - 18 New Projects

              Renovations/Equipment Upgrades - 29 New Projects

              Plant Closing - 4 New Projects

    Pharmaceutical - By Project Location (Top 5 States)

              California - 8

              Illinois - 5

              Massachusetts - 5

              Florida - 3

              New Jersey - 3

    Largest Planned Project

    During the 4th quarter of 2023, our research team identified 5 new Pharmaceutical facility construction projects with an estimated value of $100 million or more.

    The largest project is owned by National Resilience, Inc., who is planning to invest $229 million for the expansion, renovations, and equipment upgrades on their processing facility in HAMILTON, OH. They are currently seeking approval for the project.

    Top 5 Tracked Pharmaceutical Projects

    ONTARIO:

    Medical supplies mfr. is planning to invest $165 million for the construction of a 140,000 sf manufacturing facility on Bonder Road in LONDON, ON. They are currently seeking approval for the project. Completion is slated for 2026.

    QUEBEC:

    Biotechnology company is planning to invest $150 million for the expansion, renovation, and equipment upgrades on their processing facility in ST-LAURENT, QC. They have recently received approval for the project. Completion is slated for 2027.

    TEXAS:

    Specialty medical device mfr. is planning to invest $100 million for the construction of a 250,000 sf manufacturing facility adjacent to their existing plant in FORT WORTH, TX. They are currently seeking approval for the project.

    WASHINGTON:

    Pharmaceutical company is planning for a 160,000 sf expansion and equipment upgrades on their manufacturing facility in SPOKANE, WA. Construction is expected to start in Spring 2024, with completion slated for Summer 2025.

    WISCONSIN:

    Biotechnology company is planning to invest $85 million for the expansion of their processing, warehouse, and office facility at 8402 Excelsior Dr. in MADISON, WI. They are currently seeking approval for the project and will relocate a portion of their operations upon completion.

    About Industrial SalesLeads, Inc.

    Since 1959, Industrial 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  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. Visit us at salesleadsinc.com.

    Each month, our team provides hundreds of industrial reports within a variety of industries, including:

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