Montgomery County Facility To Create At Least 260 Jobs
LOWER SALFORD TOWNSHIP, Pa., July 23 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell helped to break ground today for the new North American headquarters of the Almac Group, a Northern Ireland-based provider of research, development and manufacturing services for pharmaceutical and biotechnology industries worldwide.
Last October, Governor Rendell announced a state investment of $9 million in the project. Almac agreed to create at least 262 new jobs within three years, including software development and laboratory specialists. The company also said it will retain 495 existing Pennsylvania positions.
"It's gratifying to see that even in these uncertain economic times, the groundwork we've laid for economic growth and the creation of high-value jobs is paying dividends," Governor Rendell said. "Almac's commitment confirms Pennsylvania's status as a global leader in the biosciences."
Governor Rendell noted the commonwealth's recognition by Business Facilities magazine, which named Pennsylvania as the top-ranked state in biotechnology strength in its 2008 annual rankings report released this month. Pennsylvania has ranked no higher than 11th since 2005.
Almac's $100 million expansion will be completed in several phases. Initially, the company will combine its two Pennsylvania divisions, in Audubon, Montgomery County, and Yardley, Bucks County, into the new 240,000-square-foot building in Lower Salford Township, which is expected to be fully operationally by 2010. Almac said it anticipates additional expansion in the future, up to almost 1 million square feet in a campus-like setting.
Almac worked with the Montgomery County Industrial Development Corporation and local officials to secure a $9 million funding offer last fall from the Department of Community and Economic Development. Coordinated through the Governor's Action Team, the financial package included: a $4.5 million grant through the Infrastructure and Facilities Improvement Program, a $2 million Pennsylvania Industrial Development Authority loan, a $1.25 million grant through the Infrastructure Development Program, a $400,000 opportunity grant, $100,000 in customized job training funds and $786,000 in job creation tax credits. The company is also eligible to apply for a $10 million loan through the Citizens Job Bank program, which offers low-interest loans to companies that commit to creating or expanding jobs in Pennsylvania.
Since January 2003, GAT has successfully completed 1,014 projects statewide. The projects represent commitments for 107,766 new jobs and 247,747 retained jobs. The commonwealth has offered $1.9 billion in funding to these projects, which will leverage more than $12 billion in additional investment.
Headquartered in Northern Ireland, Almac is a $750 million business that provides its services to more than 600 companies worldwide. Its integrated services extend from research, through development, to commercialization. It has five business divisions, two of which are located in southeast Pennsylvania, and has 2,000 employees throughout the U.S. and Europe. To learn more about the company, visit http://www.almacgroup.com.
For information on the Governor's Action Team and other DCED programs, visit http://www.NewPA.com or call 1-866-466-3972.
The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit http://www.governor.state.pa.us.
Luke Webber (DCED)
|SOURCE Pennsylvania Office of the Governor|
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