|
|
PUERTO RICO SPOTLIGHT
From Site Selection magazine, March 2007
'Biotech Island'
Notion Gains Currency
But there was more investment to come later in 2006, particularly in October. Pall Corp. announced then that it is expanding its manufacturing operations in Fajardo and establishing a Life Sciences Center of Excellence. Pall, which makes filtration, separation and purification systems for pharmaceutical and biotechnology companies and other users, will invest $58 million and create more than 250 new, full- time positions within the next few years. The expansion, which is scheduled for completion in July 2008, includes $17.4 million for the construction of physical facilities (warehouse and clean- room space) and $40.6 million for machinery and equipment. Pall currently occupies 230,000 sq. ft. (21,370 sq. m.) in three buildings; the expansion will add 106,000 sq. ft. (9,850 sq. m.). "Puerto Rico's attractive business climate and strong commitment to developing biopharmaceutical manufacturing capability are key factors in bringing numerous drug and biotechnology companies to the island," noted Eric Krasnoff, Pall's chairman and CEO, at the October 3rd announcement. "Expanding our operations in Puerto Rico is an important part of our strategic approach of aligning with customers worldwide and increasing production in lower- tax- rate jurisdictions." 'Small Size, Big Talent' Another biotech milestone was reached in October 2006, when Eli Lilly & Co. inaugurated its Humalog insulin manufacturing plant in Carolina, Puerto Rico; construction began in July 2002. The facility is part of Lilly's $1.2- billion investment in the island. A chemical synthesis plant in Guayama was in start- up mode at year- end 2006; it manufactures active ingredients for other Lilly products. In the IT sector, Microsoft launched an expansion program creating 94 new jobs at its replication plant in Humacao, where DVDs are made for distribution in the Americas. Among the products produced there are Microsoft's new Windows Vista and Office 2007 software – the plant can produce 87 million CDs and DVDs annually. The $66- million expansion will result in the addition of 123,000 sq. ft. (11,400 sq. m.) of new space.
TOP OF PAGE
|
|
©2007 Conway Data, Inc. All rights reserved. SiteNet data is from many sources and not warranted to be accurate or current.
|