InvaGen Pharmaceuticals Plans to Open New Islip, NY, Facility & Create 400 Jobs
01/27/2012
Located in Long Island, NY, InvaGen is a fast-growing generic pharmaceutical company. About 330 workers are employed at its drug product development and commercial operations at three different Hauppauge, NY, facilities.
Construction activity (dependent upon obtaining building permits) could begin as early as February, and will transform one building into a manufacturing, research lab and packaging operation. The firm will invest $20 million in the purchase and renovation part of the project, and $19 million more later in new equipment and research.
Plans call for the revamped facility to be fully operational in five years. The firm anticipates hiring 150 employees within the first two years and paying them an average wage of around $50,000 (according to documents it filed with the Islip Industrial Development Agency).
InvaGen will receive almost $2 million in tax credits through the state's jobs program after meeting job-creation goals, and $3.8 million in tax exemptions over 12 years.
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