The Noblesville Common Council unanimously approved an incentive deal that allows a Carmel institutional pharmacy to move its growing drug repackaging operation to Noblesville’s Corporate Campus.
Economic Director Judi Johnson said the company is looking to move to the vacant 37,000-square-foot Corporate Campus building at 14450 Getz Rd. The company will invest nearly $1.5 million and relocate 65 jobs to Noblesville and create another 70 by the end of 2018.
In exchange, Pharmakon is seeking a vacant building deduction on real property taxes – a savings of $158,740 – and a four-year personal property tax phase-in worth $38,407 in savings. Pharmakon supplies long-term-care facilities and government hospitals with pharmaceuticals packed for convenience.
“We are seeing rapid growth in this highly specialized industry,” Pharmakon President Paul Elmer said, “The rapid changes allow this growth.”
Elmer said he would like a location that could accommodate Pharmakon LTC Pharmacy and its sister firm Pharmakon
Pharmaceuticals once the Carmel lease expires. He said the five-acre Noblesville property provides adequate room to grow and construct additional building space.
“We need another 40,000 to 50,000 (square feet) additional to operate both of these businesses,” Elmer said.
