AB BioTechnologies And Japan-based TASUS Corporation Invest $4 Million To Expand Bloomington, Indiana, Operation Centers
A homegrown-Hoosier company that develops formulations and manufacturing processes for injectable drug products, AB Bio Technologies will invest $1.2 million to renovate and equip its current 1,100 square-foot laboratory in Bloomington. The company, which offers contract services in pharmaceutical and diagnostic formulation, thermal characterization and process development, will create up to 10 new jobs by 2016. As part of its growth strategy, AB BioTechnologies plans to begin developing processes and injectable solutions for clinical trials and begin hiring scientists, project managers and accounting associates early this year.
“Since opening our first laboratory, our profits have tripled every year,” said J. Jeff Schwegman, Ph.D., CEO of AB BioTechnologies. “Our foothold is growing in a niche market within the pharmaceutical and diagnostic industries, leading to this expansive growth. The wealth of qualified candidates coming out of both Indiana University and Ivy Tech, coupled with Indiana’s low cost of doing business and high quality of life, made Bloomington the perfect place for our expansion. Life science companies are dominating the landscape of Bloomington and we’re thrilled to be part of this movement.”
TASUS, a Japan-based manufacturer of plastic interior and exterior automotive parts, will invest $2.8 million to renovate its current 105,000 square-foot Bloomington production facility and expand its distributed products warehouse and North American headquarters operations. As part of the expansion, the company will lease and equip a 9,000 square-foot facility to house its administrative offices and create up to five new jobs by 2016.
“Looking forward, as a company we knew we had to expand,” said Melanie Hart, President of TASUS. “Our distributed products division was growing and we physically needed more space. I’m pleased that we were able to keep that growth here in Indiana; we are well placed geographically to reach our customers and continue growing with the help of our skilled workforce.”
TASUS, which currently employs more than 180 Hoosiers and nearly 600 associates across North America, began hiring sales and research and development associates in December.
"The importance of retaining the North American headquarters of TASUS Corporation in Bloomington and Monroe County cannot be overstated," said Bloomington Mayor Mark Kruzan. "We greatly appreciate the significant state of Indiana support for TASUS as well as the confidence TASUS has shown in our community as the location for the company's continued growth."
“In Indiana, our skilled workforce and infrastructure are growing, while our taxes and obtrusive red tape are shrinking,” said Eric Doden, President of the Indiana Economic Development Corporation. “Companies looking to gain a competitive edge find it in the Hoosier State. From life sciences to automotive manufacturing, Indiana is a state that works for business.”
The Indiana Economic Development Corporation offered AB BioTechnologies, Inc. up to $350,000 in conditional tax credits and up to $20,000 in training grants based on the company’s job creation plans. TASUS Corporation was offered up to $120,000 in conditional tax credits and up to $380,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Monroe County will consider tax abatement for AB BioTechnologies, which is supported by the Bloomington Economic Development Corporation. The city of Bloomington also supported TASUS’ project.
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