A worldwide pharmaceutical maker that already maintains operations in Coral Springs intends to build a major manufacturing plant in the city with the goal of producing more than 25 respiratory medicines, including inhalers for children with asthma.
Lupin, whose U.S. headquarters is in Naples, plans to invest $250 million over five years for research and development, infrastructure and capital expenditures, the company announced Wednesday.
Locally, the company expects the expansion will generate 200 long-term skilled jobs by 2030. The project’s construction is expected to provide employment for more than 1,000 workers.
Founded in India, the company opened its existing Broward County facility in 2015 at 4006 NW 124th Ave. in Coral Springs.
“The new site will have the capacity to accommodate the production of more than 25 critical respiratory medicines, including lifesaving albuterol inhalers for children with asthma and service members at home and overseas,” Lupin said in a prepared statement.
“The expansion of Lupin’s footprint in Coral Springs is a core part of our growth strategy,” said Christoph Funke, chief technical operations officer. “This new state-of-the-art facility will build on our existing presence in Florida, which is home to Lupin’s headquarters and our Advanced Inhalation Research Center.”
Lupin has acquired more than 5 acres of land to start an expansion covering 70,000 square feet of industrial space.
The company says it operates 15 manufacturing sites and seven research centers globally, employing more than 24,000 professionals.
“This significant investment and job growth reinforces the strength of pharmaceutical manufacturing as an important targeted industry in Greater Fort Lauderdale/Broward County,” said Bob Swindell, president/CEO of the Greater Fort Lauderdale Alliance, the public-private economic development agency for the county. “Our community offers the strong talent pool life sciences companies require and the attractive quality of life skilled workers seek.”
Tax credits, incentives pledged
In recognition of its investment and job creation plans, Lupin will receive tax credits and incentives from the state for its job creation and investment commitment.
In a statement, Florida Secretary of Commerce J. Alex Kelly said the company’s investment “will strengthen Florida’s position as a leader in life sciences, boost our advanced manufacturing capabilities and enhance the state’s medicine security — delivering long-term benefits to both our economy and the health of Floridians.”
He said Florida is second in the nation for pharmaceutical and medical device manufacturing.
The company cited the Greater Fort Lauderdale Alliance, Florida Commerce/Select Florida, the City of Coral Springs, and the Broward County Commission for the help in developing the project.