Italy-Based Stevanato Group Plans Fishers, Indiana, U.S. Operations
Headquartered in Piombino Dese, Italy, Stevanato Group expects to invest up to $145 million to build and equip a manufacturing facility of up to 370,000-square-foot to support the expansion and production of its EZ-Fill solutions.
“We are excited to locate our new U.S. hub in Fishers, Indiana, which will enable us to better serve our North America pharmaceutical customers,” said Howard Drake, Stevanato Group vice president, U.S. business development. “We are looking forward to joining the Fishers community, which shares our commitment to the pharma and healthcare industries, and to being a part of the new pharmaceutical and life sciences park the city is developing.”
As an incentive, The Indiana Economic Development Corporation (IEDC) offered Stevanato Group S.p.A. up to $2.9 million in conditional tax credits and up to $500,000 in conditional training grants based on the company’s job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and trained. The city of Fishers will consider additional incentives up to $1.2 million.
“Indiana continues to secure extraordinary growth in life sciences throughout the state, and we’re thrilled to add Stevanato Group to our list of innovative life sciences companies,” said Governor Eric J. Holcomb. “The life sciences industry contributes roughly $80 billion to the state’s economy, and we are committed to ensuring a thriving business climate that allows these firms to continue to grow and provide quality Hoosier careers.”
The facility will house state-of-the-art production lines equipped with advanced process technologies to produce Stevanato Group’s EZ-Fill syringes and vials, pre-sterilized glass containers for pharmaceutical companies. The plant will also house office space and an after-sales support center dedicated to serving U.S. engineering customers. Construction on the new plant is expected to begin later this year and be completed in 2023.
The Evolution of the Megasite
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
The 2021 Top States for Doing Business Reflect Their Locational Advantages
18th Annual Consultants Survey: Access to Major Markets and Skilled Labor Are Clients’ Primary Concerns
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Driving Into An Electric Vehicle Future
Innovative and Collaborative Design Sets the Stage for Life Science Innovation