LI drugmaker gets tax aid, plans new jobs

ALBANY -- A Hauppauge-based pharmaceuticals company is one step closer to doubling its workforce after securing nearly $2 million worth of state tax assistance, officials said Monday.

The Cuomo administration has approved the tax credits for InvaGen Pharmaceuticals Inc. through the state's jobs program run by the Empire State Development Corp. The company can use the credits along with $4 million local property-tax incentives to offset its costs for building a new factory in Central Islip, which would add about 350 jobs over five years and increase InvaGen's payroll to nearly 700.

The company can't receive the tax credits until it meets the job requirements under the agreement with the state.

But the company, which primarily makes generic drugs, is still awaiting FDA approval before it can begin construction.

The facility is planned for a 16-acre property at 550 S. Research Way, which currently houses Creative Bath Products Inc; officials said the company would invest $39 million in the new plant.

New York officials said they were competing with New Jersey, which was trying to lure the company and had offered a similar incentive package. Just a week ago, Arrow Electronics, the biggest privately held company on Long Island, announced it was moving its headquarters to Colorado. The Fortune 500 company received more than $11 million in tax credits from Colorado and never contacted New York about a counteroffer, officials said.

Gov. Andrew M. Cuomo cheered the agreement with InvaGen.

"Creating 350 new jobs on Long Island is a real victory for the local economy and a clear sign New York is rapidly becoming a place for businesses growth and success," he said in a statement.

InvaGen president Sudhakar Rao Vidiyala said the company's partnership with state and local governments will allow it to "expand its research and production of pharmaceutical products here."

The company already has three facilities in Hauppauge that employ roughly 330. Officials said the expansion will allow InvaGen to augment its production and distribution to retail suppliers, including Camber Pharma and West-Ward Pharma.

"I am proud that we were able to work so quickly with InvaGen and the [state]," Islip Town Supervisor Phil Nolan said in a statement, "to ensure that, in these tough times, a high-tech company, with good-paying jobs, chose to build their facility right here in our community."