Editor's Note: Consumer Spending & Business Innovation Foster Growth
The food/agri-business and the biopharma sectors were among those experiencing growth in 2021, spurred by innovations brought about during the pandemic.
Q4 2021
This year has been a busy one for the construction of new facilities in the food/agri-business sector — up 40 percent over 2020 in the first seven months of the 2021, according to Dodge Data & Analytics. Additionally, online purchasing of food surged from 4.5 percent of market share to 12.5 percent as of January 2021. This has had a tremendous effect on food processing and distribution companies that now need to expand their cold chain logistics and automation systems.
As for the bio/pharma sector, in addition to the vaccines and hundreds of tests, drugs, and devices granted emergency use authorization during the COVID-19 pandemic, according to Deloitte, there are more than 900 companies across the globe focused on advanced biopharma therapies and more than 1,000 cell and gene therapy clinical trials under way. In order to keep up with this biology-based innovation, biomanufacturing organizations are expanding their footprints. These organizations need to be in proximity to research and development (R&D) facilities, supply partners, and a qualified labor pool, among other considerations. A highly educated and highly trained workforce is vital to the success of these innovative operations.
These innovative companies, among others, are finding success in so-called hubs or corridors of innovation that provide access to research and medical institutions, other large companies and startups, experts in their respective fields, and the entrepreneurs who bring new ideas to market. They put together the resources needed for innovative companies to survive and thrive.
Project Announcements
Textile Manufacture 23 Farrar Street Relocates-Plans Lynn, Massachusetts, Operations
03/28/2023
Canada-Based Epsilon Industries Plans Tuscaloosa, Alabama, Prefabricated Modular Utility Systems Plant
03/28/2023
Korea-Based LG Energy Solution Plans Queen Creek, Arizona, EV Battery Manufacturing Plant
03/28/2023
France-Based CMG CleanTech Plans Osceola County, Florida, Renewable Energy Technology Manufacturing Park
03/28/2023
France-Based TIME Bicycles Plans Spartanburg County, South Carolina, Carbon Fiber Bicycle Factory
03/27/2023
Hanwha Advanced Materials Plans Cartersville, Georgia, Manufacturing Plant
03/27/2023
Most Read
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
19th Annual Consultants Survey: Clients Challenged by Tight Labor Market, Energy Availability
Q1 2023
-
The Top Investment Location Prospects for Aerospace Manufacturing
Q1 2023
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Q1 2022
-
How Are Economic Developers Partnering to Solve Workforce Challenges?
Q1 2023
-
Strategies to Overcome Intensifying Industrial Real Estate Challenges
Q1 2023