The biopharmaceutical industry has had very solid growth in recent years in employment, total value of shipments and receipts, value added, and CAPEX. The industry is also expected to continue growing its revenue at a rate of 2% within the next five years. Eastman Business Park (EBP) and the Rochester, NY Economic Area, where the Park is located, are very well positioned to attract biopharma companies.
The diagnostic substances and biopharmaceutical products sub-clusters represent almost 100% of employment within the biopharmaceutical cluster in the Rochester, NY Economic Area, with diagnostic substances alone being approximately 82%. These two segments have also experienced growth nationally in recent years in employment, total value of shipments and receipts, value added, and CAPEX. Diagnostic substances in particular more than doubled its capital expenditures between 2012 and 2015 with approximately 107% growth.
Eastman Business Park and the Rochester Region offer numerous assets and opportunities around critical site selection criteria such as transportation infrastructure, utilities, real estate product offer, workforce, and operation cost location drivers, that make the Park and Rochester an optimal location for biopharmaceuticals manufacturing. Between the micro-grid for power and utilities with a 117-megawatt powerplant, a key infrastructure linked to 13 miles of rail and trucking system plus more, the future is looking bright for EBP.
Read the full story By Louis Garguilo, , Chief Editor, Outsourced Pharma
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