Pharma Company Secures Tax Breaks, Others Wait
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 NowIndianapolis-based Sigma-Tau Pharmaceuticals Inc. has received final approval for tax abatement on a planned $10.4 million investment to boost capacity and add 60 jobs. Wednesday, the Metropolitan Development Commission also granted preliminary tax abatement approval to Praxair Surfaces Technologies Inc. for its $1.8 million proposal for a production line it says will help retain a contract and 495 jobs.
Praxair says it would also add 14 positions if plans move forward. Sigma-Tau said the plans call for the retention of 110 jobs and would keep work here that may otherwise be sent to other facilities in the U.S. or Europe. It wants to add equipment for refrigeration, packaging and laboratory tasks.
On Wednesday, the MDC pushed decisions on final abatement approval of projects from True Fabrications Inc. of Seattle and Bloomington-based Cook Group Inc. to meetings later this month. The Washington state-based distributor is seeking tax abatement for a distribution facility planned in Indianapolis. True Fabrications wants to locate its first operation outside its home state to the city’s east side and add 101 jobs in the next four years. Cook Group intends to pump more than $16.5 million into its research and development facilities and add 82 workers at the 16 Tech innovation district near IUPUI.