A Florida contract development and manufacturing company (CDMO) will undertake a $9 million expansion with government pitching in substantial financial help in exchange for a pledge that the company will add 100 jobs.
Xcelience will add 6,000 square feet of manufacturing operations, as well as expand its development labs in a new 71,000-square-foot headquarters, the company said in an announcement. The CDMO says it will need people for manufacturing jobs as well as for pharmaceutical development, quality assurance and packaging. The company has promised they will pay an average of $56,000.
|Xcelience CEO Derek Hennecke|
"The warm climate attracts a stable workforce, and the government at all levels is eager to help us grow and prosper," Xcelience CEO Derek Hennecke said in a statement.
State and local government is eager enough to kick in $500,000 in financial help as well as another $585,000 in tax breaks for qualified manufacturing and R&D equipment, more than 12% of the projected total. On top of that, the company gets $135,000 in training money. In total, it adds up to $1.22 million in benefits.
With many state governors having made job growth a centerpiece of campaign promises, drugmakers, many from overseas, having been making out well in the incentives arena in recent years. Last year, England-based Oxford Pharmaceuticals scored $4.9 million in incentives for promising to build a $31 million facility in Birmingham, AL, and bring 200 jobs over 10 years. Indian drugmaker Glenmark Pharmaceuticals will enjoy about $1 million in public support to build a $17 million manufacturing facility in Monroe, NC, and Argos Therapeutics ($ARGS) snagged $10 million in public support to build a $57 million manufacturing facility in Durham, NC.
- here's the release
- read the Tampa Bay Times story