Pharmaceutical Onshoring in the Fifth District

Matthew Wells
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Matthew Wells: https://www.richmondfed.org/research/people/wells

Econ Focus, 2026, vol. 26, issue Q1/Q2, 4-7

Abstract: Virginia's Shenandoah Valley is known for its bucolic landscape and proximity to some of the country's most scenic wilderness. Amid the farms and fields, adventurers on their way to Shenandoah National Park or the Blue Ridge Parkway might be unaware, however, of the valley's long history in producing some of the most innovative medicines and vaccines used to treat diseases and illnesses across the globe. Last October, that reputation received a boost when pharmaceutical giant Merck announced plans to construct a $3 billion, 400,000-square-foot facility in Elkton, Va., in the heart of the valley. The facility will host the firm's Center of Excellence for Pharmaceutical Manufacturing, focusing on the testing and development of complex medicines and pharmaceutical ingredients, potentially creating over 500 full-time jobs and 8,000 construction jobs.

Keywords: production and investment; economic growth; trade and international economics; workforce develoment (search for similar items in EconPapers)
Date: 2026
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