After the dark and dreary news of this year's financial headlines, the Pharmaceutical-Biotech Industry managed to light up the end of the fourth quarter. While not escaping the maelstrom of financial disorder, the sector will have started construction on 114 North American projects during the last quarter by the time 2009 comes to a close. With a combined total investment value (TIV) of $2.2 billion, the project average translates into a healthy $19 million. While the vast majority of the projects are for new research facilities, there are several scheduled that will add biological manufacturing capacity.

Looking back to better understand this year's numbers, a total of 113 projects with a combined TIV of $2.6 billion began construction during the fourth quarter of 2008.. While that reflects a dip in the total TIV of 17%, it is not nearly as bleak as some pundits feared. The project average TIV for 2008 was only slightly higher, coming in at $23 million.

In terms of geographical locations for the projects, the Southwest snared the top spot with $359 million divided into 14 projects. This was helped by the federal government and the $100 million Tri-Service Research Laboratory under construction in San Antonio, Texas. Operating under the Defense Base Closure and Realignment Commission (BRAC), the project is adding 85,000 square feet of specialized research space in a new 200,000-square-foot building.

Next up is the Mid-Atlantic, with 13 projects and a combined value of $338 million starting in the fourth quarter. Garnering third-place honors is the Southeast, with $308 million being invested in 10 projects. The Northeast finds itself in an unaccustomed fourth place, with $305 million spread over 15 projects.