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Tuesday, April 20, 2010

Diplomat Specialty Pharmacy Expanding Into Flint Bringing More Than 1,000 Jobs Over The Next Five Years

Mayor Dayne Walling Welcomes The Expansion Of Diplomat Specialty Pharmacy Into Flint. Expansion expected to bring 1,000+ new jobs to the City of Flint over the next five years

Diplomat Specialty Pharmacy, the nation’s largest privately held specialty pharmacy company, has received a $61.5 million tax credit from the Michigan Economic Growth Authority (MEGA) board for a new headquarters and expansion in Flint at the Great Lakes Technology Centre where the company expects to add more than 1,000 jobs over the next five years.

Diplomat was notified of the 18-year tax credit during today’s MEGA board meeting in Lansing. The MEGA board provides refundable tax credits against the Michigan Business Tax (MBT) to companies expanding or relocating their operations in Michigan. Flint beat out competing sites in Ohio and Texas for the multi-million dollar project.

In addition, the company will receive a $14-million grant over 10 years for worker training through Career Alliance, Inc., a Michigan Works agency serving Genesee and Shiawassee counties.

Flint Mayor Dayne Walling said this is a significant step toward substantial job creation in the city. “We are excited about the possibility of the creation of more than 1,000 new jobs in the City of Flint over the next five years in the rapidly growing life sciences and healthcare field,” said Mayor Walling. “The majority of these new jobs will be filled with residents from right here in our community who have been trained through Career Alliance. With this expansion of Diplomat Specialty Pharmacy we are positioning ourselves as a regional leader in health technology and life sciences.”

“This is great news for the City Of Flint. All aspects of the healthcare industry are growing. I am hoping with the expansion of Diplomat Specialty Pharmacy into our city it serves as a springboard to attract similar business to our area with the same kind of job creation and economic development potential,” said Delrico Loyd, President, Flint City Council.

Diplomat will invest $12M over the next five years into the expansion. The company plans to purchase the 340,000 square foot building at the Great Lakes Technology Centre on south Saginaw Street and begin consolidating operations from its current headquarters on Elms Road in Flint Township. The transition is expected to begin in 90 days.

“The award to Diplomat means Michigan can further position itself as a life sciences leader, attracting new and complementary businesses that support the rejuvenation of the Flint business landscape and the appeal of Michigan as a hotbed of ingenuity and health care talent,” said Phil Hagerman, Diplomat’s president, CEO and co-founder. “We thank Governor Granholm, the MEGA board, the City of Flint and the Genesee Regional Chamber of Commerce for their support in assuring that Diplomat will remain a Michigan-based company.”

For more information about Diplomat Specialty Pharmacy, including company history, executive team, project details, hiring plans and other information, visit http://projectpromise.diplomatpharmacy.com. Additional employment information will be available from Career Alliance (http://www.gsworks.org/).

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