Pharmaceutical company Contract Pharmacal Corp. will invest $40 million to expand its operations in Hauppauge, New York.
According to the Suffolk County Industrial Association, the company plans to acquire and connect a 17,500 square foot manufacturing complex next to its current facility on Oser Avenue.
Suffolk County IDA is offering incentives to assist the firm that develops, produces and packages pharmaceuticals with its expansion, and enable it to expand its workforce by an estimated 150 associates.
IDA incentives include granting the firm sales tax cuts and about $3.6 million in property tax abatements over 20 years. Incentives cannot be used by the firm to acquire its new building complex.
“The proposed investment will help expand Contract Pharmacal’s manufacturing operations in Suffolk County and add a significant number of jobs to the local economy,” said Tony Catapano, Executive Director of the Suffolk County IDA.
“This project is critical to our overall operations and ability to remain competitive in the global marketplace,” Mark Wolf, Contract Pharmacal's President, said in press release.