Ahead of Pfizer’s official groundbreaking for its new biologic clinical manufacturing facility at Burtt Road campus, it was reported that 50 of which attended.
Lt. Gov. Karyn Polito gave remarks on the groundbreaking, while Reps. Frank Moran, D-Lawrence, and James Lyons Jr., R-Andover, state Sen. Barbara L’Italien, D-Andover, showed all their support.
Polito said, “This is an exciting time for our administration to build on the success that the pharma industry has had here in Massachusetts,”
“I’m here to say on behalf of our administration how grateful we are that Pfizer would have this footprint here in Massachusetts, and then make the decision to grow its footprint here in Massachusetts.”
The new five-story building is anticipated to finish and run by January 2019. As part of the expansion, about 75 new jobs will be created, something that Polito called “quite an addition to our commonwealth’s economy.”
“(Pfizer’s) Andover campus is really profound in terms of the quality of jobs that will come here in their new facility, as well as the tax base that it expands in Andover,” she said.
Voters approved Pfizer’s five-year Tax-Increment Financing plan with tax breaks valuing at $2.9 million back in April.
It is likely that Pfizer’s current value of the property for three years will be taxed under the agreement, with a part of the taxes phased on the raised value of the property in the fourth and fifth years.
Meanwhile, the tax break is capitalized at $2.9 million. However, if Pfizer’s savings reached to the extent level before the five years have passed, the deal will put to an end.
Pfizer Invests $200M for the New Facility
Pfizer aims at investing another $200 million for the development of the 175,000-square-foot facility. The new campus involves seven buildings which houses laboratories, clinical and commercial manufacturing suites, and support areas.
A senior vice president at BioTherapeutics Pharmaceutical Sciences John Ludwig said, “The new facility will increase our clinical manufacturing capacity by about 40 percent over what we have now, in order to deliver those clinical supplies to the patients that we serve.”
The company aims at implementing manufacturing strategies for the next generation, including leveraging state of the art single-use bioreactors, disposing process technologies, provides cheaper clinical manufacturing options.
President and CEO at Massachusetts Life Sciences Center Travis McCready said, “This is emblematic of a broader trend,”
“This project is one of many where you’re going to see more biomanufacturing, more large molecule biologics manufacturing taking place within the commonwealth to piggyback off of the very robust ‘R&D’ structure that we’ve already built over the past 20 years.”
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