A U.S.-based pharmaceutical company will be bringing new jobs to the City of Blue Ash thanks to the Ohio Jobs Creation Tax Credit.
The Ohio Tax Credit Authority approved a 55%, 8-year job creation tax this morning for Aprecia Pharmaceuticals Company ("Aprecia"), which will bring 150 new jobs to Blue Ash.
Aprecia is a pharmaceutical company built upon a new and innovative three-dimensional printing (3DP) technology platform. Utilizing this cutting-edge technology, the company develops and manufactures quick-dispersing pharmaceutical products on a commercial scale.
"Having evaluated a number of options for reaching our long-term commercial manufacturing goals, Aprecia believes that the state of the art facility in Blue Ash, Ohio, is particularly well suited to showcase our proprietary 3DP technology platform," said Don Wetherhold, Aprecia's Chief Executive Officer. "The facility has ample space to accommodate our proprietary manufacturing machines and equipment assemblies in the capacity necessary to achieve our projected commercial production volumes well into the future."
10901 Kenwood RoadAprecia plans to invest $25 million in the 190,000-square-foot facility at 10901 Kenwood Road where its pharmaceutical manufacturing will occur. The building sits on 16.5 acres at the corner of Kenwood Road and Osborne Boulevard.
"We are very excited about the new jobs Aprecia will be bringing to the community, along with the company's investment in our city," shared Neil Hensley, Economic Development Director for the City of Blue Ash. "Aprecia is a very promising company with a bright future. The company is an innovator in the pharmaceutical industry, and we are thrilled Aprecia chose Blue Ash as its new home for manufacturing."
"Aprecia is the perfect combination of two strong technologies that the region indexes high in— additive manufacturing, specifically 3D printing, and Biohealth", said Johnna Reeder, President and CEO of REDI Cincinnati. "Aprecia has capitalized on the synergy between both sectors to create unique pharmaceutical dosage forms. Innovation like this is a game changer for the Cincinnati region."
Blue Ash is also home to many other Biohealth businesses, including Cincinnati Eye Institute, Ethicon-Endo Surgery, and CTI Clinical Trials. Aprecia is expected to move into the building in the next few months.