Governor Alejandro García Padilla announced an agreement by Puerto Rico Industrial Development Company (PRIDCo) with global pharmaceutical Actavis that will allow the company to develop a solid dosage manufacturing and packing facility in its Manati site and expand its current hormone production in Fajardo.
Actavis is investing $48 million and has committed to create up to 300 new jobs over a 36-month period, of which it already has created 100. This is happening in less than eight months after Actavis acquired global operations of Warner Chilcott, including the Manati and Fajardo plants. All plans should be completed by 2016.
PRIDCo is promoting Actavis expansion with incentives for job creation and infrastructure, among other benefits provided under the Economic Incentives for Development Act.
The investment will allow the company to bring new lines generic, brand and bio-similar products. When the expansion is completed, Actavis will have 700 employees in Puerto Rico.
“This is a significant increase in production and jobs of a company that already is contributing close to $78 million a year to Puerto Rico’s economy, between salaries, income taxes and purchases to suppliers”, said governor García Padilla while visiting the Manati site, on the northern region of Puerto Rico.
“Three years ago the government limited itself to express that the shutdown of manufacturing operations here, and the lay-off of 87 employees, was the result of global changes and nothing could be done. We acted differently. Even if it is true that the bio-pharmaceutical global industry is subject to changes that affect Puerto Rico, the Commonwealth’s is an important actor that can influence in a positive way in the process”, emphasized the governor.
Garcia Padilla pointed out that in the first 16 months his government has proven that actively promoting the available incentives the island can attract manufacturing operations, maintain and expand existing ones, as well as attract new investments. It already has created 5,500 jobs and made possible over $615 million in investments. Some of the companies that have expanded manufacturing operations include Eli Lilly, Bristol Myers, Cooper Vision, Medtronic, Propper International and Baxter, among others.
When Warner Chilcott halted manufacturing and packing operations in Manati, it converted the site to a distribution center, a move that resulted in the lay-off of 87 of the 119 persons who worked in the factory. The company kept the hormone manufacturing operations in Fajardo, a municipality in the northeastern coast, but on October 2013 Actavis acquired Warner Chilcott global operations, including both plants in the island.
“As this manufacturing plant is living a new beginning full of hope, the same thing is happening to Puerto Rico. The country is living a transformation. The Economic Recovery Agenda is the path traced for the new dawn. It’s the road to the transformation that will allow us to pay our debts with the past and the future”, said Garcia Padilla.