Perrigo Company, a supplier, developer and manufacturer of over-the-counter and generic prescription medications, infant formulas, nutritional products and dietary supplements, will invest $242 million to add infrastructure and equipment to its Allegan, Michigan, production facility and establish a new manufacturing complex in Holland Charter Township, Michigan, creating 650 jobs to support a tablet expansion for its over-the-counter business.

As a result of the expansion, the Michigan Strategic Fund approved an increase in the maximum allowance for qualified new jobs on the company’s Michigan Economic Growth Authority tax credit from 400 to 1,050 workers. In addition, Holland Charter Township and Allegan, Michigan, have offered property tax abatements in support of this project.

MEDC President and CEO Michael A. Finney said; “In the last two years we have greatly improved Michigan’s business climate and infrastructure, making it easier for our businesses to find new paths to prosperity, and the changes are paying off.” A Comment from the company was not immediately available.

The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.