Biopharma Startup to Set Up Shop in Fishers
(photo courtesy of Michal Jarmoluk/Pixabay)
A biopharmaceutical manufacturing services startup has announced plans to build its global headquarters and first manufacturing facility in Hamilton County. INCOG BioPharma Services says it will invest about $60 million to construct and equip the 60,000-square-foot facility in Fishers and create up to 150 jobs by the end of 2024.
INCOG BioPharma is a contract development and manufacturing organization for the biopharmaceutical industry. The company says the new facility will support biopharma companies in “advancing and accelerating early phase clinical projects to commercial launch and routine commercial re-supply.”
“Over the past several months, we evaluated several states and cities to identify the optimal location for our new venture,” said Cory Lewis, co-founder and chief executive officer of INCOG BioPharma. “It became clear that the state of Indiana and the city of Fishers was the ideal location, given the vast amount of life science industry experience that exists in the state. By locating our business in Fishers, we will have access to a large talent pool of skilled and trained resources.”
INCOG BioPharma plans to begin hiring early next year for engineering, manufacturing sciences, quality assurance, human resources, project management, and business development positions. The company says it will add more than 65 employees over the next two years and continue hiring as customer demand increases.
The company plans to break ground as early as December. The facility is expected to be fully operational in the first half of 2022.
The Indiana Economic Development Corp. has offered INCOG BioPharma up to $2.5 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired. The IEDC says it will also provide up to $200,000 from the Industrial Development Grant Fund to support on-site infrastructure improvements.
The city of Fishers will consider additional incentives.