Cook Pharmica LLC plans to spend $28 million and hire 70 workers to add a new drug-filling line at its Bloomington facility, company and state officials announced Monday morning.
Cook Pharmica, a subsidiary of medical device maker Cook Group, currently employs 575 workers manufacturing and packaging drugs for use in clinical trials or for sale on the market.
It plans to boost that number to 645 by the end of 2020.
The jobs are expected to add combined wages of $3.2 million—or an average of $46,000 per worker—according to an April report by the Bloomington Herald-Times after the Bloomington City Council approved a property-tax abatement for the project.
Tedd Green, president of Cook Pharmica, said in a written statement that “this expansion will continue Cook’s commitment to providing world-class biopharmaceutical manufacturing services to customers here and around the world.”
With its new line, Cook will have more capacity to fill syringes, vials and cartridges used for injectable drugs. Most biotech drugs have to be injected.
Biotech drugs now account for one-quarter of all worldwide drug sales, up from 14 percent in 2006, according to a 2014 report by EvaluatePharma, a London-based market research firm.
The Indiana Economic Development Corp. offered Cook Pharmica, LLC up to $275,000 in conditional tax credits and up to $400,000 in training grants based on the company’s job-creation plans. The company is not eligible to claim incentives until it meets hiring goals.
According to the Herald-Times, the Bloomington City Council awarded a $250,000 payment to Cook Pharmica for the project in addition to a 10-year tax abatement.