In a few years Massachusetts could become the next Silicon Valley of biotechnology and bio-pharmaceutics, judging by the growing number of businesses that choose to relocate or consolidate their presence here.
Piscataway, NJ-based GE Healthcare Life Sciences, a division of GE Healthcareâ€”one of the largest players in the industry, with more than 11,500 employees in over 100 countriesâ€”has selected Forest Park in Marlborough (pictured) as the new headquarters for its US operations. Though the company said in an official news release that it hasnâ€™t determined an exact address for its future home in the city, the Worcester Business Journal reports that the GE Healthcare division will move into a large office building located at 200 Forest Street, just south of Route 20 and west of I-495. The 530,000-square-foot office/R&D facility is part of the 109-acre former HP campus that was acquired by Atlantic Management in 2011.
According to the Boston Business Journal, GE Healthcare Life Sciences will occupy 160,000 square feet of space at 200 Forest Street and will share the building with another biotech company, Quest Diagnostics, which signed a lease for 200,000 square feet with Atlantic Management two years ago.
GE Healthcare Life Sciencesâ€™ new headquarters will accommodate over 500 employees, with around 220 new positions expected to be created once the facility becomes fully operational in spring 2015. The company will invest $21 million to transform the currently vacant space into research laboratories, customer application facilities and office space that will complement GE Healthcare Life Sciencesâ€™ existing manufacturing capability in Westborough, Mass. The company has already started recruiting employees to the site and expects to hire around 220 people
â€œOur new facility in Massachusetts will position us for continued innovation and competition in such a fast-paced, innovative industry,â€ said Kieran Murphy, president and CEO of GE Healthcare Life Sciences. â€œWe will be close to industry-leading talent, customers, and world-class academic and medical institutions across all the industry sectors we serve, from biotech and pharma, to diagnostics and medical devices,â€ he added.
Meanwhile, CSM Lodging of Minnesota recently paid almost $2 million for a piece of land within Marlboroughâ€™s thriving office park and plans to build a new Hilton Garden Inn. Scheduled to open in the first quarter of 2016, the hotel will have 160 rooms, a business center, a restaurant, a fitness center and a pool and is expected to meet the demand for hotel space in the area.
â€œOnly 45 minutes from downtown Boston, the Forest Park development area is a center of activity and economic growth,â€ said Bob Micklash, president of CSM Lodging, in a press statement. â€œAs major corporations continue to move into Marlborough, we recognized a need for a new, updated hotel to accommodate the areaâ€™s growing community. We are excited by the activity within the immediately adjacent office park and could not be more pleased to make this venture a reality.â€