IDEXX Laboratories Announces a $50 Million Expansion in Maine

WESTBROOK, Maine, April 06, 2010—IDEXX Laboratories, Inc. announced today that it plans to develop a new corporate administrative facility, a projected investment of $50 million. The multi-story building, estimated at 200,000 sq. ft., will be designed to support 500 new jobs as well as provide an opportunity to consolidate 400 existing positions currently located at One Riverfront Plaza and One Thomas Drive, both in Westbrook, Maine.

IDEXX has enjoyed sustained growth over the past decade, including during the economic downturn. Over the last seven years, the Company has expanded its manufacturing and research and development facility at IDEXX Drive in the Five Star Industrial Park in Westbrook and doubled the number of Westbrook-based employees from 800 to 1600. We anticipate continued growth, leading to requirements for additional administrative space to be online as early as 2012. This timeline requires planning for this building project to begin immediately.

At this time, Westbrook legislators and administrators are engaged in searching for ways to satisfy the needs of current Park businesses and residential neighbors, as well as position the Park to attract new business.

Jonathan Ayers, CEO of IDEXX, said, "We want to build this new facility on our existing campus in Westbrook. Westbrook is the home of IDEXX Laboratories, Inc., and we have found the city to be a supportive partner with a vision that fosters investment in growth and employment. In addition, our culture of innovation is nurtured by having our employees located in close proximity.

"IDEXX has participated fully in Westbrook's planning process over the last two years, and we look forward to upcoming City Council decisions regarding the future of the Five Star Industrial Park and the zoning amendments approved by Westbrook's Planning Board last year. These decisions are vital and will impact our future expansion plans."

"The City is very pleased with this exciting news and the continued commitment that IDEXX Laboratories has to Westbrook," said Westbrook Mayor Colleen Hilton. "We are thrilled that a company of IDEXX's stature and international reputation makes its home here in Westbrook, Maine. We work very hard to maintain an environment in our community where industry and commerce can thrive and grow. In these tough economic times, a strong job base is one of the most valuable assets a community can have."

 

About IDEXX Laboratories

IDEXX Laboratories, Inc. is a leader in pet healthcare innovation, serving practicing veterinarians around the world with a broad range of diagnostic and information technology-based products and services. IDEXX products enhance the ability of veterinarians to provide advanced medical care, to improve staff efficiency and to build more economically successful practices. IDEXX is also a worldwide leader in providing diagnostic tests and information for the production animal industry and tests for the quality and safety of water and milk. Headquartered in Maine, IDEXX Laboratories employs more than 4,800 people and offers products to customers in over 150 countries.

Note Regarding Forward-Looking Statements 

This press release contains statements about the Company's business prospects relating to future periods that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's expectations of future events as of the date of this press release, and the Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments. Factors that could cause or contribute to differences between future events or developments and management's current expectations can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 (PDF).