Explanation
BACKGROUND: The Director of the Department of Development is requesting authorization to enter into an Enterprise Zone Agreement on behalf of the City of Columbus (“City”) with West-Ward Columbus Inc. and Hikma Pharmaceuticals USA Inc. (collectively and hereinafter referred to as “Enterprise”). The Ohio Enterprise Zone Law Section 5709.62(C) of the Ohio Revised Code authorizes the City to enter into a Council-approved tax abatement agreements between the City and qualifying companies.
West-Ward Columbus Inc. are Hikma Pharmaceuticals USA Inc. (“Hikma”) sister subsidiary companies under the Eurohealth Inc. parent organization. Founded by Samih Darwazah in 1978 in Jordan, Hikma was created with the purpose to make high-quality medicines accessible to the people who need them. Based on the solid foundation built, the company is continuing to transform the lives of the millions of people served. Hikma focuses on three high quality businesses (Injectables, Branded, and Hikma Rx) within three core regions of the world (North America, MENA, and Europe) with a leading market position. With 29 manufacturing plants spread across 10 different countries, Hikma has been able to create a large portfolio of over 800+ products. With their current U.S. Headquarters located in Berkeley Heights, NJ, Hikma has three locations in Ohio. A manufacturing and R&D facilities are both in Bedford and Columbus, and a Distribution facility in Lockbourne. All coming together to make Hikma the 3rd largest manufacturer of Injectables in the U.S. and the largest manufacturing employer in Columbus.
West-Ward Columbus Inc. and Hikma are proposing to invest a total capital expenditure of approximately $215,700,000.00, which includes $92,000,000.00 in real property improvements and $123,700,000.00 in machinery and equipment. The investment in real property improvements include the construction of a new 131,000 square foot pharmaceutical storage and distribution facility as well as a ...
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