Biotech Location Strategies (cover) Central Indiana Massachusetts Greater Philadelphia Pennsylvania's Lehigh Valley SouthCoast Massachusetts Purdue Research Park Town of Gander New Jersey Economic Dev. Authority (EDA) |
SPECIAL ADVERTISING SECTION
Pennsylvania's Lehigh Valley:
Lehigh Valley, Pa., located near the Pennsylvania/New Jersey border, is home to a growing cluster of companies engaged in the life science industries. The region is aggressively attracting companies many of which are seeking to expand from nearby New York, New Jersey and Philadelphia metro areas. Additionally, it is nurturing startups in a highly successful incubator housed on the Lehigh University campus. Attractive grants, low-interest loans and other financial incentives are available from the state, counties and 11 municipalities for job creation within the biotech sector.
According to Ray Suhocki, President and COO of the Lehigh Valley Economic Development Corporation (LVEDC), a few of the Lehigh Valley's assets include:
Recent announcements of expansions and new companies into the Lehigh Valley include: Sharp Pharmaceuticals, B. Braun Biotech and Alcan Packaging. Sharp, which packages medicines for the pharmaceutical industry, plans to move its corporate headquarters from Conshohocken, near Philadelphia, to the Lehigh Valley. Factors cited by Sharp for the choice of location included proximity to major highways, the existing facility in Conshohocken and the pharmaceutical companies in the Northeast. The new plant will ultimately employ 300.
B. Braun Biotech will begin adding workers after the company moves to a $6 million 85,000 sq. ft. plant in Bethlehem, early in 2004. The company designs and builds laboratory fermenters and other equipment for biotechnology companies. Incentives from Pennsylvania included up to $500,000 in grants, $900,000 in job-creation tax credits, $400,000 for job training and $925,000 in loans for machinery and equipment. Alcan Packaging of Montreal, another firm that packages pharmaceuticals, found that the Lehigh Valley Economic Development Corporation and its regional partners offered a great deal of assistance to find a new location. In this case, LVEDC worked to showcase the Lehigh Valley's exemplary workforce to Alcan, which cited the region's outstanding talent pool as a factor in its decision. For successful life sciences companies the Lehigh Valley might be the right chemistry for your business. |
©2003 Conway Data, Inc. All rights reserved. SiteNet data is from many sources and not warranted to be accurate or current.
|