Contract Pharmacal Corp.
If you’re talking about pharmaceutical giants on Long Island, you will most likely hear the name Contract Pharmacal Corporation (CPC). That’s because CPC occupies ten facilities in the Hauppauge Industrial Park, all of which serve a unique purpose in helping CPC manufacture 10-11 billion dosage forms annually. Compared to approximately one million dosage forms produced per week in the 1990’s, CPC’s growth has been exponential.
How Suffolk IDA Helped Contract Pharmacal Corp.
- Property Tax Abatements
- Mortgage Tax Exemptions
- Sales Tax Exemptions
- Approval in 30 Days
- Assistance with other agencies
Long Island has long been the home for Contract Pharmacal; the company moved to Long Island in 1975.
Being located here in the industrial park has made it easier for us to do business because there are suppliers locally for labels, boxes, testing labs, everything we don’t do internally
When CPC needed new space and expanded space in 2010, it made sense for the Suffolk IDA to forge a partnership with the innovative manufacturer. The IDA extended existing PILOT agreements and helped secure essential incentives, capital grants and tax credits to help CPC expand business operations in Suffolk County and add hundreds of jobs on Long Island. Fast forward eight years, and CPC again found their facilities operating at their absolute maximum capacity due to rapid growth. They again reached out to the Suffolk IDA for assistance. The IDA approved a transaction to provide an incentives package for CPC’s purchase of a new 17,500 square foot building. In time, this expansion of facilities is expected to add over 150 new jobs.
CPC’s workforce now stands at over 1,400 employees, comprising skilled workers from various industries who come to Long Island for both its opportunities and lifestyle.
Long Island gives access to beaches, restaurants, theatres, proximity to New York City and so much more you cannot find any place else.
The IDA’s partnership with CPC is an example of the synergy and unlimited potential that can be unlocked when a company works with the Suffolk IDA. For CPC, working with the Suffolk IDA has afforded the company the opportunity to maximize its operations and continue to grow. For Suffolk County, the partnership has kept an important company on Long Island, one that continues to create jobs and add to the region’s economic strength. The Suffolk IDA helped CPC expand on Long Island, and we can help your business too. Whether you’re based in Suffolk or thinking about moving your operations here, make us your first call. We’ll bring all the key players together, discuss financial incentives, help you with workforce training and recruitment and be a partner to you, every step of the way.