IDEXX to Begin a $60 Million Multi-Phase Expansion in Maine in September
The construction of a three-story administrative building begins with an initial investment of $30 million and will support 300 new jobs at IDEXX
WESTBROOK, Maine, July 12, 2011—IDEXX Laboratories, Inc. announced today that it will continue its expansion in Westbrook, Maine this fall with the construction of a new corporate administrative facility requiring an investment of more than $60 million in facilities and equipment during the two phases of a 200,000 sq. ft. development. Upon its completion, the new facility will be the first certified LEED (Leadership in Energy and Environmental Design) building in Westbrook, with additional space to support up to 700 new employees in Maine.
The first phase of the project will be the initial 107,000 sq. ft. of a three-story building, with a projected phase one investment of $30 million. The phase one development will support 300 new jobs upon its completion in 2013. As many as 300 additional new trade jobs will be added to the local economy for the construction phase of the project; Maine companies will be contracted for 97% of the construction.
IDEXX's consistent growth over the past decade, even during the economic downturn, necessitates that the Company create new space for its current employees and for projected increases in its employee population. IDEXX has more than doubled the number of employees working in Maine over the past eight years, with the current number of Westbrook-based workers jumping from 800 to 1,700.
The new facility will represent IDEXX's commitment to innovation by utilizing new collaborative workspace design and technology which is being adopted as a best practice by highly innovative companies. "To achieve this goal, we are considering workspace designs that enhance creative thinking, foster collaboration and encourage open communication," said Jonathan Ayers, Chairman and CEO.
IDEXX most recently grew its Westbrook campus to support the relocation of 150 employees from offices in downtown Westbrook; completion of this expansion is scheduled for the end of July making way for the groundbreaking of the new administrative facility in the fall.
Ayers said, "We are proud to grow our operations in Westbrook, Maine and to contribute to the quality of life in this community and the State by creating good jobs and continuing to seek opportunities for stewardship. Just as we are a leader in the marketplace by creating exceptional value for our customers, we aspire to lead in our communities by being active in corporate volunteer activities and philanthropic initiatives in Westbrook and throughout the State."
Westbrook Mayor Colleen Hilton said, "Westbrook takes great pride in being the home of IDEXX Laboratories corporate headquarters. Their growth represents an important part of our economic development strategy as we've looked to have technology based companies locate and grow their businesses in Westbrook.
"We view their success as a significant accomplishment for IDEXX, the greater Portland region, the State of Maine and beyond. News such as expansion and job growth is certainly worthy of celebration and speaks to the exceptional accomplishments of Jonathan Ayers and his outstanding team. As our community evolves from heavy industrial based business to this new technology era, we are extremely excited about their expansion and the opportunities they represent for our region."
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, improve staff efficiency and to build more economically successful practices. IDEXX is also a worldwide leader in providing livestock and poultry diagnostic tests 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 100 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. Risk 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 most recent Quarterly Report on Form 10-Q for the period ended March 31, 2011.