Monroe County is signing off on a multimillion-dollar tax abatement to expand pharmaceutical manufacturing in Bloomington.
The county commissioners approved the deal with Simtra BioPharm, which makes sterile injectable products for medical purposes, Thursday morning.
Read more: County Council approves tax abatement proposal
One part of the plan is to construct a new facility on the former location of General Electric at North Curry Pike.
Another part applies to another company facility.
Commissioners thanked Sinmtra representatives at Thursday’s meeting.
“People think tax abatements are basically corporate giveaways, and they're not,” Jody Madeira said. “They're really community partnerships, and you guys are going to take, and invest, a lot of money in our community's future.”
Patrick Adams, a Simtra manager in Bloomington, said that the agreement would allow the company to create “more targeted products” in the U.S.
“It allows us to become the only North American commercial manufacturer for these types of products,” Adams told the commissioners.
According to Simtra officials, the company plans to invest nearly $250 million in the facility. They also expect to create about 90 new jobs.
Natalie Fitzgibbons contributed to this report.
