InvaGen Pharmaceuticals Inc. and AlphaMed Bottles Inc., Hauppauge-based companies with shared ownership, are expected to create 120 jobs over two years after constructing two manufacturing plants on 18 acres in Central Islip, officials with the Town of Islip Industrial Development Agency said.
The 260,000-square-foot InvaGen factory, which will be constructed on 14 acres of land across the street from affiliate Ascent Pharmaceuticals Inc. at 550 S. Research Place, will be used to manufacture and distribute pharmaceuticals, including cardiovascular, anti-inflammatory and anti-diabetic medicines. InvaGen currently employs 390 people on Long Island.
Additionally, AlphaMed plans to construct an 80,000-square-foot factory on four acres adjacent to the new site. The company makes and distributes bottles and packaging for pharmaceuticals. AlphaMed employs 15 on the Island.
In an earlier IDA financial aid application, the companies planned to build a 125,000-square-foot, $17.9 million plant for InvaGen, and a 75,000-square-foot, $7.8 million facility for AlphaMed. The projects' sizes have grown since that original May 2014 filing, an attorney for the project applicants said.
The Islip IDA, whose members also sit on the town's council, gave preliminary approval for tax breaks for both projects in June, but couldn't continue with the approval process until an environmental impact review was completed, an agency official said.
Now, since the scope of the projects has grown, new benefit calculations must be made before a planned Feb. 9 public hearing date.
The applicants' attorney said they would be submitting an amended application to the IDA Thursday.
The 18 acres to be purchased for the two projects are currently owned by the town, and don't generate tax revenue. The land sales are expected to bring in more than $3.5 million in revenue for Islip, in addition to a new tax bill going forward, town Councilwoman Trish Bergin Weichbrodt said.
"We're very excited that they were able to come in and buy these 18 acres," Bergin Weichbrodt said. "In addition to the millions of dollars of revenue from this sale, we also will be enjoying the added jobs that come with it."