Commission to Consider Incentives For Three Companies
Sigma-Tau PharmaSource currently employs 110 in Indianapolis.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThree companies seeking tax abatement for planned expansions will face final approvals this afternoon from the Metropolitan Development Commission in Indianapolis. The projects from Bloomington-based Cook Group Inc., Indy-based Sigma-Tau Pharmaceuticals Inc. and True Fabrications Inc. of Seattle involve the potential for 243 new jobs and the retention of 188 jobs. Investments could exceed $27 million.
The largest of the three planned investments is from Cook, who is looking to grow its presence at the highly-touted 16 Tech innovation district. The medical device manufacturer intends to pump more than $16.5 million into its research and development facilities on the city’s west side, adding 82 workers.
Sigma-Tau Pharmaceuticals’ plans call for investing $10.4 million into increased plant capacity and equipment for refrigeration, packaging and laboratory work. In a filing with the city, the contract manufacturer says if it doesn’t expand here, it will take the opportunity elsewhere. The expansion could retain 110 jobs and create 60.
True Fabrications wants to locate its first distribution outside the state of Washington to a facility on the east side. It plans to invest $362,000 in logistics equipment and hire 101 employees by 2022.