Catalent, a New Jersey-based pharmaceutical company, announced they are investing $350 million in a manufacturing facility in Bloomington in order to increase its pharmaceutical manufacturing abilities.
In a company press release, Catalent said the expansion is estimated to add more than1,000 jobs to the Catalent Bloomington workforce over the next few years.
Multiple Bloomington organizations and departments are collaborating with Catalent on this local expansion, including the Bloomington Economic Development Corporation and the City of Bloomington.
Jennifer Pearl, president of the Bloomington Economic Development Corporation, said the BEDC helped Catalent find properties, navigate local government processes and connect with government tax incentives. Catalent is one of 100 BEDC members which work to advance economic development and foster quality jobs with higher wages for local workers.
She also said projects took a number of years and an “economic development village” to come to fruition at BEDC. She said many people came together to make this investment and the BEDC is excited for what’s to come in terms of the community.
“If not for Cook, if not for local governments and many other partners, we wouldn't be where we are today, and we're very proud that Bloomington continues to be the center for lifesaving treatments and medical devices,” Pearl said.
In the short run, she said the partnership means mass employment and job security; in the long run, it means continuing the legacy Catalent started years ago. Catalent recently started producing COVID-19 vaccines but will continue this production as well as manufacture other medical devices and distribute statewide and otherwise, she said.
Pearl said the life sciences industry had an economic impact of $77 billion and there are 46 life science companies in Bloomington alone, including Catalent. Such companies impact 12,000 employees and their families, she said.
Pearl said there are currently several great and local employers, but this provides another reliable option for them. She said Catalent isn’t just hiring production but also people in research & development, logistics, etc.
Alex Crowley, the director of Economic and Sustainable Development in the City of Bloomington, said he hopes Catalent is successful in the expansion and that they become more integral to the fabric of the community. He said he also hopes that this will become an example of Bloomington’s ability to attract and retain global companies.
The City worked with the Catalent team to do a tax abatement and expand their facility, he said. Crowley said this was because of the economic benefits of collaborating, including adding jobs and capital investment. He also said that the City recognizes the importance of biologics and that advancement and development of life sciences have a real effect on people’s lives.
In addition to running the manufacturing facility, Catalent has been a guest lecturer and sponsor to the Kelley School of Business Center for the Business of Life Sciences for years, said George Telthorst, the director of the Center for the Business of Life Sciences.
He said he is pleased with the collaboration and hopes to continue working with Catalentin the future in professional development opportunities as well. Telthorst said the investment indicated that Catalent values life sciences and the quality of life, hence the doubling down in its investment.
“Indiana is the number two medical exporter in the country,” Telthorst said. “We want to make sure we attract and develop people who work in this industry.”
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Catalent to invest in local manufacturing facility - Indiana Daily Student
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