McGuire Sponsel partnered with Exelead, a contract pharmaceutical manufacturer, to help them select an ideal location for growth, while securing state and local economic incentives. The company provides contract manufacturing services with an emphasis on complex liposomal and PEGylated formulations meant for rare diseases or small populations.
The client was in need of a location that could accommodate purchasing new manufacturing equipment and a skilled pharmaceutical workforce. Exelead plans to create approximately 60 additional jobs over the next five years and purchase over $10 million in equipment and launch an ongoing training initiative for current and future employees.
McGuire Sponsel was engaged to assist in evaluating multiple site location scenarios in Maryland, Indiana and China. During the site selection process, McGuire Sponsel led discussions with local economic developers, the IEDC and the city of Indianapolis to procure over $1.3 million in tax credits, grants and tax abatement in support of an Indianapolis expansion.
We connect the growth plans of our clients with local and state incentives to reduce costs and add significant dollars to the bottom line. If your business is growing in the next year or two a discussion about economic incentives may prove valuable. Contact Steve Brunson or Doug Dalton to learn more.