The over million square foot distribution facility for TEVA Pharmaceuticals will be constructed at the former Budd Company plant in Northeast Philadelphia.
A major pharmaceutical operation is consolidating its distribution in Philadelphia. The facility will mean jobs for the city.
The over million square foot distribution facility for Teva Pharmaceuticals will be constructed at the former Budd Company plant in Northeast Philadelphia. Governor Ed Rendell says the state money has attracted more private dollars.
“For this investment of $4.7 million the commonwealth gets a $300 million capital investment. that’s 60 to one.”
Teva CEO William Marth says they were courted to move operations out of the area.
“We were very loyal to our state, we have been here in Pennsylvania since Teva came to the United States, and it was very important for us to be here.”
The construction will generate between 400 and 600 jobs. Once the building is finished in 2013 about 200 new hires will supplement over 200 who will be consolidated at the facility.