Life Sciences Industry Assessment Study
The Problem
The Business Development Board of Palm Beach County (BDB) retained Facility Logix to conduct an analysis of the county’s life science industry. The County had attracted several non-profit research institutes in the late 1990’s, early 2000 and did not see the anticipated life science growth or cluster development expected.
The Solution
Facility Logix gathered and evaluated baseline information regarding the existing market in Palm Beach County, FL as well as that in competing markets including Tampa, Orlando and Miami. Considered was a number of key elements required for a sustainable life sciences industry cluster including: the presence of a leading research institution, leading hospitals and healthcare providers, sector-trained workforce, real estate matched to market needs, capital investment and financing sources and a supportive political environment with industry-appropriate incentive tools. The market assessment information gathered defined the region related to the evaluation of the opportunity in biotechnology and life sciences; analyzed the strengths, weaknesses, opportunities and threats (SWOT) associated with the target industry sector; presented applicable best practices from neighboring markets; and concluded with a set of seven (7) recommendations for a bold sector‐focused strategy.
Other Projects
LB-1/PX-1
United Therapeutics Corporation (UT) sought to design and develop the first full service Ex Vivo Lung Perfusion (EVLP) Center in the United States. Time to market was critical for the delivery of the building for initiating US clinical trials.
Wisconsin Alumni Research Foundation
Facility Logix worked with a local real estate provider to detail the property’s attributes and to evaluate the potential market for a buyer of the building for its highest and best use as a fill-finish site.
John Hopkins University Fast Forward
Johns Hopkins FastForward business accelerator program sought to understand Baltimore City, regional and statewide lab space market dynamics to guide the design of its planned 1812 Ashland incubator
IBT
Facility Logix worked with IBT and its real estate representation team to evaluate options for its new facility. We oversaw the design, engineering and build-out of the new facility that opened September 2016.