You may have missed Governor Patrick’s recent announcement detailing Novartis’ 2011 bio-pharma expansion, but it’s hard to ignore the industry boom in Cambridge.
With over 100,000 people located in 6.5 square miles, Cambridge provides a balance of cultural- diversity, technological innovation, and unprecedented institutional knowledge. Cambridge expansion is becoming a bio-pharma right of passage. As existing operations position themselves to tap into the intellectual pipeline, it’s no surprise that Cambridge is a hub for industry leaders.
Recently, Sanofi-Aventis announced their collaboration with Harvard University in development of their cancer research center. Subsequent announcements from Novartis detailed expansion plans with a budgeted spend of $600 million for their 2011 R&D operational overhaul. These ventures alone will add approximately 800 jobs and 500,000 square feet of bio-pharma real estate to the Cambridge footprint.
From a service provider perspective, with the bio-pharma industry and its real estate sector expanding, an evolving synergy continues to carve out innovative business prospects. As business relationships are refined, previously overlooked opportunities are being bundled as single source contracts. Staying ahead of Cambridge’s growth curve is crucial in capitalizing on these opportunities. A service provider must demonstrate an ability to refocus core competencies, maintain services levels, and constantly add value in this changing environment.
If you walk through Kendall Square a recession is nowhere in sight. Furthermore it’s proven that success in Cambridge may ultimately lead to success on a national or global scale.