Press Release: Shire Pharmaceuticals Group Expanding
Shire Pharmaceuticals Group Expanding; Adding 390 Jobs at U.S. Headquarters WAYNE, Pa., July 19 -- Governor Edward G. Rendell today said Shire Pharmaceuticals Inc., a global specialty-biopharmaceuticals company, plans to create 390 new jobs within four years by expanding its Pennsylvania operations. The Governor said the company will also retain 594 existing jobs as part of its $30 million headquarters expansion project in Chester County. "Having a company like Shire expand in Pennsylvania reaffirms our status as a global leader in the biosciences," Governor Rendell said. "We currently have some of the most dynamic companies and talented researchers in the world working in Pennsylvania. Today's announcement means even more of these dedicated people will be working to improve the quality of life for all Pennsylvanians. "Our business-friendly tax structure and easy access to capital investment help businesses compete successfully on an international scale. That's why we've dedicated funding -- through World Trade PA -- to create new opportunities abroad and attract investments from other nations. Making targeted investments in companies like Shire also helps to strengthen Pennsylvania's economy and to provide new opportunities for our hardworking men and women." Shire is leasing a 115,000 square-foot building near its U.S. headquarters in the Chesterbrook Corporate Center in Wayne. The company is renovating the 1200 Morris Drive facility, which has been vacant for more than five years, and acquiring furniture, fixtures and equipment while striving to make the building as "green" as possible. "As Shire Pharmaceuticals continues to grow, there is no better place for us to call home than Pennsylvania," said Matthew Emmens, Shire's chief executive officer. "The productive talent pool, the quality of life and the support for business in the commonwealth are second to none. We're proud to be a part of this region's growing biopharmaceutical and technology corridor." Shire worked with the Governor's Action Team to secure a $2.07 million funding offer from DCED, including a $600,000 Opportunity Grant, $300,000 in Customized Job Training assistance and $1.17 million in Job Creation Tax Credits. The company is also eligible to apply for Pennsylvania R&D Tax Credits as its new operation will include significant research functions. Today's announcement represents the second Shire project to be coordinated through the Governor's Action Team, which consists of economic development professionals who serve as a single point-of-contact for businesses considering locating or expanding in Pennsylvania. On May 24, 2004, Governor Rendell announced the state's investment offer of $5.2 million to help the company establish its U.S. corporate headquarters in Wayne. "Shire is exactly the type of business we're working hard to bring to Pennsylvania," Governor Rendell said. "It took just 18 months for the company to exceed its original commitment to the state to invest $8 million and create 400 jobs within three years. Partnerships like this one do great things for our residents and our economy." There have been 32 GAT projects successfully completed in Chester County since January 2003. These projects total commitments for 3,815 new jobs created and retention of 5,257 jobs. The commonwealth has offered more than $68 million in state assistance for these projects, which will leverage more than $279 million in additional investment. Statewide since January 2003, 837 GAT projects have been successfully completed. These projects total commitments for 89,950 new jobs created and 203,089 retained jobs. The commonwealth has offered more than $1.6 billion in state assistance for these projects, which will leverage more than $9.9 billion in additional investment. Shire's strategic goal is to become the leading specialty biopharmaceutical company focusing on developing and marketing products to meet the needs of the specialist physician. The company targets its business on ADHD, human genetic therapies, gastrointestinal and renal diseases. The company's in-licensing, merger and acquisition efforts are focused on products in niche markets with strong intellectual property protection either in the United States or Europe. To learn more about the company, visit http://www.shire.com. For information on the Governor's Action Team, World Trade PA and other DCED programs, visit http://www.NewPA.com or call 1-866-GoNewPA (1-866-466- 3972). The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us.