Monday, July 24, 2017
Boehringer Ingelheim announced a $217 million investment to upgrade and expand their Fremont manufacturing facility. This investment will bring nearly 300 new high-wage and highly-skilled positions to the City of Fremont. The site was recently awarded $25.5 million in two separate tax credits from the state, making them the largest award to a pharmaceutical company. This significant expansion will enable the company to increase its manufacturing capacity by one-third.
"The Bay Area is the largest biotech cluster in the world. We are happy to have made Fremont our home and are grateful for the support we have received from the community and the State of California," said Jens Vogel, President and CEO of Boehringer Ingelheim Fremont, Inc. "We have made a commitment to the region and are excited to continue to invest in the Bay Area and expand our workforce to help increase patient access to high-quality medicines."
"The State Treasurer's Office is excited to play a role in helping Boehringer Ingelheim expand and create nearly 300 permanent, high-paying jobs right here in California," said State Treasurer John Chiang. "The incentives my office provides ensure that California will retain and create jobs, bolster the economy and clean the environment, today and into the future."
Boehringer Ingelheim is a research focused company who invests nearly 20% of all net sales back into research and development – that equates to nearly 20 cents on every dollar. The Fremont facility focuses on manufacturing medicines for immunology, rheumatology and oncology.
