Thursday, November 27, 2014
Inquirer Daily News

Pa. offers $1.2M in incentives for Endo HQ move

The drug company, which plans to move from Chadds Ford to the Malvern area next year, would receive a combination of grants and tax credits.

Pa. offers $1.2M in incentives for Endo HQ move

Pennsylvania officials have offered Endo Pharmaceuticals Holdings Inc. a financial incentive package worth $1.2 million in connection with the relocation of its corporate headquarters.

On Monday, the pharmaceutical company announced it would be moving from four buildings in Chadds Ford to a 300,000-square-foot, two-building complex that will be constructed in the Malvern area. At the time, an Endo spokesman said the company was talking with state officials about possible incentives.

The Governor's Action Team has offered a $750,000 Opportunity Grant and $462,000 in job creation tax credits, according to Steve Kratz, press secretary for the state Department of Community and Economic Development.

In order to take full advantage of those tax credits, Endo must create 154 jobs within three years of moving into its new headquarters. Endo is scheduled to move its 500 local employees to the Atwater business park in East Whiteland Township, Chester County, in December 2012.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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