FISHERS, Ind. (Inside INdiana Business) — An Italian company is planning to establish its new U.S. operations in central Indiana. Stevanato Group says it will invest up to $145 million to build and equip a 370,000-square-foot manufacturing facility in Fishers and create more than 230 jobs by the end of 2025.
The company, which provides drug containment, drug delivery and diagnostic services for the pharmaceutical, biotechnology and life sciences industries, says the facility will support the expansion and production of its EZ-Fill solutions.
Construction on the plant is expected to begin later this year. Stevanato Group says the facility will include state-of-the-art production lines to manufacture its EZ-Fill syringes and vials for pharmaceutical companies. It will also include office space and an after-sales support center to serve U.S. engineering customers.
“Central Indiana is well positioned to support exponential growth in the life science and advanced manufacturing industries,” Fishers Mayor Scott Fadness said in a news release. “As we continue to see an emerging life science cluster here in Fishers, we believe that Stevanato Group’s decision to invest in Fishers underscores the opportunity for growth.”
The facility is expected to be operational in 2023. The company plans to hire for a variety of positions, including production, engineering, maintenance and other corporate support jobs, at a later date.
Stevanato Group employs some 4,300 people around the world and also has U.S. locations in California, Pennsylvania and Massachusetts.
The Indiana Economic Development Corp. has offered Stevanato Group up to $3.4 million in conditional tax credits and training grants, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The city of Fishers will also consider up to $1.2 million in additional incentives.