Amgen Pumps $365M Into New Ohio Facility

Amgen Inc AMGN plans to build a $365 million pharmaceutical packaging facility in New Albany that will employ 400 workers.
The Ohio Tax Credit Authority Monday approved a state tax credit for the project.
Amgen plans to start work in the fall on the 270,000-square-foot facility. The site is expected to come online in 2024.
In a news release announcing the decision, the company said, "the facility will feature Amgen's most advanced assembly and final product packaging capabilities for medicines to be distributed in the U.S."
"We are adding this additional assembly and packaging plant to our global supply chain network to support the anticipated growth in demand for Amgen medicines."
The company will hire technicians, engineers, managers, and other positions to staff the plant. The facility is expected to have an annual payroll of around $41 million.
Price Action: AMGN shares are down 0.13% at $242.54 during the market session on the last check Tuesday.