Biopharmaceutical Company Durata Therapeutics Relocating To Chicago, Illinois, Creating 100 Jobs
11/15/2012
The state Department of Commerce and Economic Opportunity said the drug development company’s relocation to 200 S. Wacker Dr. in downtown Chicago is expected to create up to 100 new jobs in the next three years and bolster Illinois’ expanding biotechnology industry.
“The life sciences sector is an important part of the 21st century global marketplace, and this high-growth industry has great potential to bring more jobs to our state,” said Governor Pat Quinn. “Durata Therapeutics’ decision to move to Chicago is a testament to Illinois’ role as a hub for biotech innovation.”
“Several of our executives have ties to the Chicago area, so the idea of building a biopharmaceutical company in Illinois is important to us,” said Durata Therapeutics CEO Paul R. Edick. “We also are quite familiar with Illinois’ deep talent pool in the pharmaceutical and hospital sectors. We look forward to recruiting many experienced employees to join our Chicago-based team over the coming years.”
Durata Therapeutics, founded in Morristown, N.J., is focused on the development and commercialization of novel therapeutics for patients with infectious diseases and acute illnesses. The three-year-old company, which went public in July, plans to submit a New Drug Application for dalbavancin to the U.S. Food and Drug Administration in the first half of 2013. Dalbavancin is Durata’s lead product candidate, currently under investigation for the treatment of serious skin infections that require intravenous therapy.
"I welcome Durata Therapeutics to Chicago, and I am pleased that they have chosen to locate their headquarters downtown to access the unique pool of talent that the city of Chicago offers," said Mayor Rahm Emanuel. "Durata is a growing company in an important sector and will be a key player as Chicago's biopharmaceutical sector continues to evolve, creating jobs and economic opportunity for our workforce."
As an incentive, the state The Department of Commerce and Economic Opportunity is providing a targeted investment package that includes tax credits under the Economic Opportunity for a Growing Economy program. The tax credits, based on job creation, can be used against corporate income taxes to be paid over 10 years.
Project Announcements
ValorFlex Packaging Plans Bowling Green, Kentucky, Production Operations
06/30/2025
Neuro.io Plans Terrebonne Parish, Louisiana, Operations
06/30/2025
Germany-Based MTU Maintenance Expands Fort Worth, Texas, MRO Operations
06/30/2025
Cascade Die Casting Group Expands High Point, North Carolina, Manufacturing Operations
06/30/2025
BuildOps Plans Raleigh, North Carolina, Operations
06/30/2025
Point Blank Enterprises Plans Wakulla County, Florida, Operations
06/30/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024