Staq Pharma Inc. to add $50M Columbus-area plant, bring 300 jobs

A Denver-based pharma packaging startup, Staq Pharma Inc., that “compounds custom pharmaceuticals and prepackages them for hospitals” plans to “open a $50 million facility just west of Columbus and add 300 jobs,” ColumbusInno reports. Rev1 Ventures, Cincinnati Children’s Medical Center and Nationwide Children’s Hospital “were repeat investors in a $43 million” Series C funding round that was led by “several hospital systems,” according to the article. CEO and co-founder Joe Bagan said One Columbus leaders pointed out Central Ohio’s strategic advantage: Columbus is “within a day’s drive of half of the U.S. population and corporate headquarters,” and that “sealed the deal.” Franklin County Commissioners approved a “50% property tax abatement on newly added value for 10 years,” and the facility site is within “a broader west side Community Reinvestment Area [CRA] the county created a year ago to bring back manufacturing.” The tax incentive agreement calls for 150 new jobs in the first three years. For more, read the full article

Economic Development, Financial Incentives, State Updates