AmerisourceBergen Corp., an international pharmaceutical sourcing and distribution services company with more than $120 billion in annual revenue, expects to start construction this summer of a $39.3 million distribution center in the town of Newburgh that will create 121 jobs.
Gov. Andrew Cuomo in announcing the project Tuesday said the pharmaceutical company, headquartered in Valley Forge, Pa., “will bring jobs, private investment and a new economic energy to Newburgh and the entire region.”
Empire State Development, the state economic development agency, has approved up to $1 million in Excelsior Jobs Program tax credits for AmerisourceBergen in Newburgh, where the company has agreed to hire 121 new employees in the next two years and maintain those staffing levels through at least 2025. The company will be required to annually submit evidence that it satisfied all requirements for receiving the tax credits, state officials said.
Howard Zemsky, commissioner, president and CEO of Empire State Development, in the announcement said AmerisourceBergen “further diversifies the economy of the mid-Hudson Valley and will help assure the region”™s long-term stability.”
AmerisourceBergen in a separate announcement Tuesday said the Newburgh facility is one of three new distribution centers the company plans to add to its existing network to improve its access to manufacturers”™ drug products, increase supply chain efficiency and enhance patient care. The other two planned centers are in Olive Branch, Miss., and Shakopee, Minn.
All three developments are slated to begin this summer and will be completed in 18 to 24 months, according to the company.
Amerisource Bergen officials said the construction projects are part of the company”™s ongoing investments in its distribution network and information technology systems that handle nearly 35 percent of all of the pharmaceuticals sold and distributed in the U.S. The investments have totaled more than $1 billion over the last 10 years.
“We grow when our customers grow, so it”™s no surprise that our goal is to help successfully execute the patient-focused strategies of the manufacturers, providers, pharmacists and retailers whom we support,” said Robert Mauch, executive vice president and president of AmerisourceBergen Drug Corp.
AmerisourceBergen operates 26 distribution centers and four specialty distribution centers in the U.S. The company employs more than 16,000 people in more than 150 offices around the world. AmerisourceBergen is ranked 28th on the Fortune 500 list of companies.
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