Teva Moves to Northeast Philly

from the inbox:

U.S. Rep. Allyson Schwartz joined Gov. Ed Rendell and Philadelphia Mayor Michael Nutter at City Hall today to announce that Teva Pharmaceuticals USA, one of the largest pharmaceutical companies in the world, will expand its operations in her congressional district, creating hundreds of jobs and investing nearly $300 million into Northeast Philadelphia’s economy. The company already has a facility in North Wales, which is also part of the congresswoman’s district.

Schwartz advocated to Nutter and Rendell on behalf of Teva to ensure that this global pharmaceutical company will expand their operations in her district. The $295M project will employ up to 500 full-time positions once construction is complete. Development of the new distribution facility is scheduled to begin in spring 2011 and will create approximately 400 to 600 construction jobs in the Northeast.

“Teva's expansion into Northeast Philadelphia is a tremendous opportunity for the city,” Schwartz said. “This project will create or save more than 500 jobs and inject nearly $300 million into the local economy. I am thrilled that TEVA has selected this location for its distribution facility and was happy to work with city and state officials to bring real economic growth to the region.”

“Making this investment in Philadelphia is significant for us both financially and emotionally as we've always considered Philadelphia to be our hometown,” said William Marth, President & CEO Teva Pharmaceuticals - The Americas. “We have strong partnerships in Philadelphia and we're glad to be furthering our investment in this great city.”

Teva Pharmaceuticals USA will acquire a 136-acre parcel at 1 Red Lion Road in Northeast Philadelphia and build a state-of-the-art distribution facility. The facility, which will consist of three buildings totaling approximately 1.2 million square feet, will support all of Teva’s warehousing and distribution needs in the United States.

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company, based in Israel, which specializes in the development, production and marketing of generic and proprietary branded pharmaceuticals as well as active pharmaceutical ingredients. Teva is among the top 11 pharmaceutical companies and among the largest generic pharmaceutical companies in the world.