From the Terre Haute Tribune-Star:
NantWorks in January announced it would invest $120 million over the next five years to redevelop the former Pfizer facility.
The new company is in the process of gaining manufacturing process approval from the federal Department of Food and Drug Administration to produce critical care injectable and oncological drugs for cancer treatment.
The company will employ 234 workers by the end of 2016 under its agreement with the Redevelopment Commission.
However, for any employee below that number, NantWorks must pay back $5,128 per employee to the Redevelopment Commission. If nothing happens at the site, the company must pay the Redevelopment Commission $1.2 million, the agreement states.
NantWorks will seek real and personal property tax abatements from the county. Vigo County will also pay $160,000 to extend a 12-inch water line to the new manufacturing site.
The Indiana Economic Development Corp. is providing up to $2 million in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans.
http://tribstar.com/local/x164322116/Sale-of-ex-Pfizer-property-complete
