PORTAGE, Michigan (UKTN) – Pfizer is expected to begin building a new pharmaceutical production facility in western Michigan.
The drugmaker will inaugurate the 420,000-square-foot multi-story building on Pfizer’s global manufacturing campus in Portage on Wednesday, MLive.com reported.
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It is expected to create 450 new jobs in the region. The $ 465 million facility is expected to be operational in 2025, according to Pfizer.
The new facility will initially manufacture the pain medication known as Dynastat, which is supplied to several international countries, Pfizer said.
Pfizer worked with German partner company BioNTech to create a COVID-19 vaccine that gained regulatory approval from the United States last year.
Portage offered Pfizer a 50% property tax rebate to build the new facility there.
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In 2018, the Michigan Strategic Fund Board approved an envelope of $ 11.5 million, including $ 10.5 million in tax incentives and a grant of $ 1 million for the creation of new skilled jobs. The average salary was to vary from $ 70,100 to $ 93,300.
Portage is approximately 140 miles west of Detroit.
Creating new jobs in and around Portage has a positive impact on other industries such as restaurants, retail and housing, said City Manager Joe La Margo.
“It’s a benefit for the whole community, for the whole region,” he added. “Pfizer is a great community partner. We are pleased that they continue to invest in the town of Portage.
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