Galaxy Life Sciences lands $50 million deal to build in central Massachusetts biomanufacturing park
Webster, MA-based real estate developer Galaxy Life Sciences struck a roughly $50 million deal to build in a biomanufacturing park in Worcester, an up-and-coming biotech hotspot about an hour west of Boston.
Galaxy paid $1.9 million for a 6-acre plot, on which it intends to construct a $50 million building grossing 95,000 to 180,000 square feet. The space will be designed to accommodate research and development, or manufacturing, and could employ 125 to 150 workers, according to the Worcester Telegram & Gazette. Construction is expected to begin this spring and wrap up in about a year.
The deal also includes rights for Galaxy to develop the remaining lots in the park. The company advertises “build-to-suit” sites ranging from 35,000 square feet to several hundred thousand square feet.
The 46-acre manufacturing park, called The Reactory, was born in 2017 when the Worcester Business Development Corporation signed a deal to redevelop the site of the city’s old state hospital. The city and WBDC will begin a project this fall to upgrade infrastructure surrounding the campus.
In May, The Reactory gained Shanghai-based WuXi Biologics, which signed a $1.5 million deal to build a $60 million facility — its first in the US — at the site. The facility is set to open in 2022.
According to the Massachusetts Biomedical Initiatives, there are more than 60 biotech companies in Worcester County, including AbbVie, which has been in the city since its predecessor Abbott Laboratories planted roots there in 2001.
A lower cost of living compared to Boston and Cambridge pulls professionals to Worcester. Plus, the city boasts 10 colleges and universities with life and health sciences programs, the MBI states.
“This $50-million plus investment at The Reactory by Galaxy represents the continuation of the growing life sciences ecosystem in Worcester,” WBDC president and CEO Craig Blais said, per the Worcester Business Journal. “The Reactory substantially increases the City’s tax base and most importantly creates a wide range of jobs in the region.”