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ALMAC GROUP BEGINS $100 MILLION U.S. HQ EXPANSION IN REGION Almac Group, a life sciences research-and-development service company headquartered in Northern Ireland, broke ground last week on a new 240,000-square-foot North American headquarters campus in the Greater Philadelphia suburb of Harleysville, Pa. The $100-million expansion is part of a consolidation project set to grow to one million square feet. The site, expected to be completed in 2010, will house the nearly 500 employees relocating from Pennsylvania divisions in Audubon in Montgomery County and Yardley in Bucks County. In addition, the project will add upwards of 260 jobs to the region within three years, including software development and laboratory specialists. Almac worked with the Montgomery County Industrial Development Corporation and local officials to secure a $9 million funding offer last fall from the Department of Community and Economic Development. Coordinated through the Governor's Action Team, the financial package included: a $4.5 million grant through the Infrastructure and Facilities Improvement Program, a $2 million Pennsylvania Industrial Development Authority loan, a $1.25 million grant through the Infrastructure Development Program, a $400,000 opportunity grant, $100,000 in customized job training funds and $786,000 in job creation tax credits. The company is also eligible to apply for a $10 million loan through the Citizens Job Bank program, which offers low-interest loans to companies that commit to creating or expanding jobs in Pennsylvania. |
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