WI: Catalent Pharma Solutions to Invest $34M, Expand in Madison, Add 100+ Jobs
25 Oct, 2016
Catalent Pharma Solutions, a global provider of drug delivery technologies and development solutions, is expanding its operations in Madison, Wisconsin – a project expected to create more than 100 new jobs.
Catalent will add more than 22,000 square feet at its existing facility on Madison’s west side to increase manufacturing, office and laboratory space. The $34 million project, expected to begin in November, will double the size of the company’s workforce in Madison.
“Catalent has operations throughout the world and had other options for its expansion plans. I want to thank the company for its continued to commitment to Wisconsin by deciding to grow here,” said Lt. Governor Rebecca Kleefisch, who joined company officials at a groundbreaking ceremony today. “This expansion will further enhance the Madison region’s leadership position in the pharmaceutical and health industries.”
“Our Madison facility is an important part of Catalent’s development capability, and serves a market for biologically derived drugs that is outstripping that of small molecule drugs,” said John Chiminski, Catalent’s president and chief executive officer. “Together with our GPEx cell line technology and SMARTag antibody-drug conjugation chemistry, our partners continue to benefit from a compelling and differentiated portfolio of biologics capabilities.”
To help secure the company’s commitment, the Wisconsin Economic Development Corporation (WEDC) has awarded Catalent with up to $1 million in state tax credits over the next three years. The actual amount of credits the company will receive is contingent upon the level of capital investment in Madison during the three-year period.
“WEDC is pleased to assist Catalent as it continues to expand in Madison,” said Mark Hogan, secretary and CEO of WEDC, the state’s lead economic development organization. “Catalent is one of the many companies deciding to grow here because of the state’s strong business climate, outstanding workforce and world-class university system.”
In addition to the 102 jobs expected to be created by Catalent Pharma Solutions, an economic modeling study estimates the project will directly and indirectly generate 214 additional jobs in the region. Those 316 jobs are estimated to generate an additional $4.5 million in state income tax revenue over a five-year period.
Catalent Pharma Solutions, which was founded in 2007 but has a heritage that extends more than 80 years, provides drug delivery technologies and development solutions for drugs, biologics and consumer health products. The company’s oral, injectable and respiratory delivery technologies address the full diversity of the pharmaceutical industry. Through its extensive capabilities and expertise in product development, Catalent helps its customers take products to market faster, including nearly half of the new drug products approved by the Food and Drug Administration in the last decade.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive environment. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.
Catalent is the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. With over 80 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable clinical and commercial product supply. Catalent employs approximately 9,200 people, including over 1,400 scientists, at more than 30 facilities across five continents, and in fiscal 2016 generated $1.85 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey. For more information, visit www.catalent.com.