GOV. MALLOY ANNOUNCES ALEXION PHARMACEUTICALS TO EXPAND IN NEW HAVEN
Global Biopharmaceutical Leader Becomes Fourth of the "First Five," will Create 200-300 Jobs in New Haven
(HARTFORD, CT) – Governor Dannel P. Malloy today announced that leading biopharmaceutical company Alexion Pharmaceuticals, Inc. will establish its global headquarters at a new facility to be built in New Haven by 2015. The state will support the project through the First Five program, Governor Malloy's signature economic initiative that is creating jobs by spurring large-scale business development projects. The company will relocate its existing Connecticut workforce of more than 350 employees to the facility once it is complete and expects to create 200-300 new jobs in the state by 2017. In addition, hundreds of jobs in service industries are expected to be created as a result of Alexion's move to New Haven.
"Fast-growing companies like Alexion are true engines of economic growth. They attract investments, spur production and jobs in other industries, and improve our overall economy. Their decision to grow here in our state is a major step forward in our larger strategy to establish Connecticut as a world-renowned life sciences hub," Governor Malloy said.
"One of my first acts as Governor was to launch Bioscience Connecticut, an initiative designed to expand and improve Connecticut's research and development capacity. Bioscience is a $284 billion dollar business. With the investments we've made, we will ensure that Connecticut is in a position to compete for every dollar for years to come."
Alexion, which recently joined the prestigious S&P 500 index, is a global leader in the innovation, development and commercialization of life-transforming therapeutic products for patients with severe, life-threatening and ultra-rare disorders.
With operations in over 30 countries around the world, Alexion has chosen to locate its global headquarters in New Haven, along with the company's United States research center and North America commercial operations. Importantly, Alexion's new facility will expand downtown New Haven alongside the Yale School of Medicine/Yale-New Haven Hospital campus.
"Our new headquarters in New Haven will support the rapid growth of our company as we expand our global mission to transform the lives of patients with severe and life-threatening ultra-rare disorders," said Leonard Bell, M.D., Chief Executive Officer of Alexion. "By combining our research, operational and administrative headquarter functions into a single, state-of-the-art facility within the vibrant New Haven community we will maximize the efficiency of our organization while remaining in Connecticut. We appreciate the Governor's vision to support the continued growth of New Haven as a major biopharmaceutical hub that will bring hope to patients, innovation to the industry, and drive economic growth in New Haven."
A homegrown Connecticut company, Alexion was founded in 1992 as a small biopharmaceutical startup in New Haven's Science Park. Outgrowing that location, the company moved its headquarters to Cheshire in 2000, where it has again outgrown its existing space.
Winstanley Enterprises is developing the $100 million, state-of-the-art, laboratory and office building in which Alexion will be the anchor tenant. The building, which will employ the latest sustainable technology, will stand on a newly developed urban boulevard at 100 College Street. This area, known as Downtown Crossing, will undergo significant improvements and will include:
-- A 400,000+ square-foot facility for office, laboratory, R&D, and retail;
-- A separate 600-800 space parking garage;
-- Street-level retail shops and cafés along College Street;
-- Infrastructure improvements including surrounding road improvements, rehabilitation of the College Street Bridge and access to the neighboring Air Rights garage; and
-- Overall pedestrian and bike enhancements in the area.
"This project is a true partnership between Alexion, DECD, the Departments of Transportation and Energy and Environmental Protection, the city of New Haven, and developer Winstanley Enterprises," said Catherine Smith, commissioner of DECD. "I want to thank everyone who had a hand in bringing the project to this point. I especially want to thank the Alexion team for their confidence in Connecticut. We are delighted they will continue to anchor our fast-growing biopharmaceutical industry. New Haven and the entire region will benefit from their continued presence and growth."
The state is supporting the project with up to $51 million in assistance through the First Five program, which is administered by the Department of Economic and Community Development (DECD). A breakdown is as follows:
-- A 10-year loan of $20 million at a rate of 1% with principal and interest deferred for five years. Loan forgiveness of $16 to $20 million will be based on the creation of 200-300 full-time jobs;
-- A $6 million grant for laboratory construction and equipment;
-- Urban and Industrial Sites Reinvestment Tax Credits of up to $25 million.
About Alexion
Alexion Pharmaceuticals, Inc. is a biopharmaceutical company focused on serving patients with severe and life-threatening ultra-rare disorders. Alexion is the global leader in complement inhibition and has developed and markets Soliris® (eculizumab) as a treatment for patients with PNH and aHUS, two debilitating, ultra-rare and life-threatening disorders caused by chronic uncontrolled complement activation. Alexion is evaluating other potential indications for Soliris and is developing four other highly innovative biotechnology product candidates. More information about Alexion can be found at: www.alexionpharma.com.
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For Immediate Release: June 19, 2012
Contact: Jim Watson
Connecticut Department of Economic and Community Development
[email protected]
860-270-8182 (office)
860-306-3737 (cell)