Governor Josh Shapiro of the Commonwealth of Pennsylvania has invested nearly USD $3m into Adare Pharma Solutions to support the company’s HQ relocation.
The oral dosage CDMO is investing $16.8m into moving from New Jersey to Pennsylvania, with the aim of boosting its growth in the US market.
The relocation will create 115 new jobs, while also retaining 200 existing Pennsylvania jobs.
Adare has received a $2.4m Pennsylvania Industrial Development Authority loan, while also gaining a $460,000 Pennsylvania First grant and a $100,000 workforce development grant, which will be used to train the workers employed at Adare’s site.
“I believe Pennsylvania is the best state in the nation for companies who want to innovate, grow and succeed in the biotech and life sciences spaces, so I’m thrilled that Adare has chosen Pennsylvania over other states for its headquarters and continued growth.” Commented Governor Josh Shapiro.
“Pennsylvania has access to key markets and significant laboratory infrastructure. Adare’s growth here will build on that legacy, while creating more opportunity for the Pennsylvanian community.”
Life Sciences is one of the five key sectors in our Economic Development Strategy, and we’re committed to making sure the industry continues to grow and thrive in the Commonwealth.” Said DCED Secretary, Rick Siger.
Adare is also expanding its two Philadelphia manufacturing and packaging facilities, a 175,000 sqft facility at 7722 Dungan Road and a 128,000 sqft facility at 1100 Orthodox Street.
The company’s headquarters is being relocated from New Jersey to the Dungan Road location.