LANSING, Mich. (AP) - Pfizer Inc. has been awarded $11.5 million in state incentives to build a new manufacturing facility in Michigan and add 450 jobs.
The Michigan Strategic Fund Board approved the deal Tuesday. State officials said the pharmaceutical company headquartered in New York could have chosen one to expand in one of its 12 other facilities across the world.
Pfizer plans to spend $465 million on a new sterile drug manufacturing facility in Portage near Kalamazoo. The facility - which will take eight years to construct - is needed so Pfizer can comply with new regulations from the federal government.
This is the first time the state is doling out special tax incentives under its "Good Jobs" program that was enacted last year.