Bloomington pharmaceutical company expanding
BLOOMINGTON, Ind. (WISH) — A biopharmaceutical manufacturing organization announced plans Monday to expand operations in Bloomington, creating up to 70 news jobs by 2020.
Cook Pharmica will invest $28 million to renovate and equip its facility in Bloomington, which is located on the grounds of the former RCA television plant.
The company is adding a new drug product line and plans to have it up an running in early 2017.
“With a $59 billion economic impact in Indiana, the strength of our life sciences industry has a tremendous effect throughout the state,” said Governor Mike Pence in a statement Monday. “Here in Indiana, we’re passionate about developing products that make our world a healthier place. We offer the business environment companies like Cook Pharmica need to thrive and in turn, create excellent jobs for Hoosiers.”
Cook Pharmica currently employs 575 people and has already begun hiring for the new positions.
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The Indiana Ecnomic Development Corporation offered Cook Pharmica up to $275,000 in conditional tax credits and up to $400,000 in training grants based on the company’s job creation plans. It is not able to claim these credits until people are actually hired.
“Cook Pharmica is an economic force in Bloomington, attracting continued national and international recognition of our life sciences sector,” said Bloomington Mayor Mark Kruzan. “Cook Pharmica’s commitment to expansion in equipment, site improvements and workforce and the city’s support through this tax abatement will further solidify the appeal of Bloomington to a talented workforce, attract additional private sector investment and increase the awareness of Bloomington’s economic strengths internationally.”