CINCINNATI (AP) Gov. Ted Strickland and Amylin Pharmaceuticals Inc. announced May 2 that the San Diego-based company plans to expand its operations in southwest Ohio — a move expected to create up to 500 jobs over the next three years.
Strickland said Amylin Pharmaceutical’s decision is great news for the state and its economic development efforts.
“This is an example of how Ohio is becoming increasingly attractive to those that want to invest in research and bioscience technology, which I think will be a huge part of Ohio’s economic renaissance,” the governor said in a telephone interview.
Amylin’s subsidiary, Amylin Ohio LLC, is planning to expand its production facility currently under construction in West Chester Township approximately 15 mi. north of Cincinnati in Butler County. The project is expected to be completed by the end of 2008.
The state of Ohio, through the Ohio Department of Development and the local communities have provided an incentive package of more than $117 million in tax credits, grants and other financial assistance for the project, Strickland said. The incentives were based on Amylin’s expected investment of approximately $400 million dollars in the expansion.
“We believe Ohio has a favorable business environment and is an ideal location for investing in our company’s future growth,” Daniel Bradbury, president and chief executive officer of Amylin Pharmaceutical, said in a statement released May 2.
The company intends to manufacture LAR, Amylin’s long-acting release formulation of the diabetes drug exenatide. The drug, currently in clinical development, could be taken weekly for the management of Type-2 diabetes if it is approved by the Food and Drug Administration.
The company has said that its plan for expansion of the plant is dependent on continued progress of the drug through its development process.
“We need approval from the FDA still, but we are on track with our clinical development program,” Amylin spokeswoman Alice Bahner said.
Officials in West Chester Township and Butler County said the expansion is a big boost for their area.
“Amylin is exactly the type of high-tech employer that we like to see growing here in southwest Ohio,” Butler County Commissioner Mike Fox said in a statement May 2.