Tuesday, September 26, 2017 || By Local News Curator || @maywoodnews
Featured image: Left to right, Fresenius Kabi officials Steve Nowicki, Dr. Michael Schoenhofen, John Ducker and Melrose Park Mayor Ron Serpico during a groundbreaking ceremony that marked the start of work on a project to expand the company’s Melrose Park facility. | Fresenius Kabi
On Sept. 22, Melrose Park village officials, along with officials with the Fresenius Kabi, the global healthcare company based in Germany, broke ground on a $250 million project to expand the company’s Melrose Park manufacturing facility, located at 2020 N. Ruby St.
According to an article published on the website of Area Development Magazine, a trade publication, the expansion “will create multiple new buildings connected to the existing manufacturing site and will feature” a range of updates to equipment and facilities.
Currently, the Melrose Park facility makes generic drugs that are used to treat chronically ill patients in hospitals and clinics across the country. Fresenius currently employs more than 1,700 people in Illinois, Area Development states.
Fresenius Kabi will invest $250 million into the expansion over 10 years, with 2026 as the projected completion date. According to Area Development, the project “will lead to hundreds of high-paying manufacturing and construction jobs in the Melrose Park region.”
“This project will create many opportunities for our employees, who work around-the-clock to produce life-saving medicines for patients who need them,” said Steven R. Nowicki, a Fresenius Kabi senior vice president of global operations for the company’s North American pharmaceuticals division.
Melrose Park Mayor Ron Serpico said that the company “has been an exceptional corporate neighbor” before noting that his village “is home to dozens of industrial and manufacturing businesses.”
According to an August 2016 Crain’s Chicago Business report, the Village of Melrose Park agreed to provide Fresenius with a maximum of $15 million in tax increment financing if the company put up at least $80 million for the expansion. The village also agreed to subsidize Fresenius Kabi’s water consumption.
In addition, Crain’s reported, the company at the time stood to receive a 12-year property tax reduction from Cook County and an unspecified amount of state tax credits.
Read the full Area Development Magazine article here. VFP
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