Pfizer Expands Its Michigan Presence

It was recently announced that Pfizer, Inc. plans to expand their manufacturing presence in Michigan by building a new production facility in Portage, MI, starting in 2019 with an anticipated opening in 2024. A combination of state tax incentives and grants will help fund 450 new jobs in Michigan, most focusing on development of injectable drugs in sterile, self-contained rooms.

 

Pfizer, which already employees some 2,200+ employees in Michigan, took advantage of the state’s new Good Jobs incentive, which was enacted a year ago to create tax incentives for large-scale job creation projects. Any company that meets minimum job creation and wage requirements is then eligible to up to 100 percent of employee withholding taxes for up to ten years.

 

Michigan, once considered a powerhouse in the automotive manufacturing industry, has shifted heavily towards pharmaceuticals and life sciences. In addition to Pfizer’s long-standing presence in the state, there are several other medical-related companies that call Michigan home.

 

  • Asterand, a human tissue sample bio-bank in Detroit that helps drug makers with ethically sourced samples for testing compounds
  • Stryker, a medical equipment maker in Plymouth
  • RetroSense Therapeutics, a small eye-care company using green algae genes to treat blindness

 

Some automakers are renewing their relationship with the Wolverine State, but Michigan’s incentives to retain large companies like Pfizer while drawing in new industries speaks to an adaptive approach that’s not only attracting new companies but attracting new technology and diversifying industries in the state to protect against massive job losses. Michigan’s unemployment rates have continued to fall over the past year (at 4.3 percent) and stay in line with the national average of 4.2 percent. Do you think Pfizer’s announced expansion in Michigan will cause new startups and small health sciences business to relocate? Let us know in the comments below.

       

 

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