Catalent Announces $350M Investment in Bloomington Operations
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Indiana’s life sciences sector has received another economic booster shot with a more than $350 million investment from New Jersey-based Catalent Inc. (NYSE: CTLT). The biopharma company says it will grow operations at its manufacturing campus in Bloomington and hire more than 1,000 new employees over the next several years. The company says the new investment will allow it to expand its drug product manufacturing and vial-filling capabilities.
The new positions are on top of previous jobs commitments made by the company, which total approximately 2,300 positions. Catalent operates a 1-million-square foot manufacturing facility in Monroe County.
“Our continued growth in Bloomington demonstrates how important this site has become to the production of medicines for patients worldwide,” said John Chiminski, chair and chief executive officer at Catalent. “The talented, diverse Hoosier workforce and the ambitious business environment provide a strong foundation for our long-term presence in Bloomington.”
The Indiana Economic Development Corp. says it will invest up to $40 million in the form of incentive-based tax credits, based on Catalent’s job creation plans. IEDC says it has also offered another $4 million combined in conditional training grants and redevelopment tax credits.
The Bloomington facility has recently been used to produce the Moderna and Johnson & Johnson COVID-19 vaccines, among other biologic and pharmaceutical products. In October, the company detailed plans to add up to 600 jobs in Monroe County.