Amneal Pharmaceuticals LLC

Amneal Pharmaceuticals LLC

Amneal Pharmaceuticals LLC is a U.S. based manufacturer of generic drugs nearing completion of a $51 million expansion and equipping of its Yaphank factory. It has expanded an existing 121,000-square-foot manufacturing facility to 265,000 square feet and is constructing a new 35,000-square-foot building to perform research and development on hormonal drugs. It will consolidate operations elsewhere on Long Island in this facility, formerly occupied by Arrow Electronics. This major development will allow Amneal to undertake 20 new product introductions per year, establishing it as the largest pharmaceutical maker on Long Island and the second-largest in the state. Amneal currently has 700 employees and as a result of this project will add 400 new jobs. The project will generate $317,000 in new taxes, increasing to $860,000 after construction, for the town and its taxing jurisdictions.

 

Project Need(s)
Amneal sought financial assistance in the form of a straight lease with sales tax exemptions and a beneficial PILOT from the Town of Brookhaven IDA. The company has operations elsewhere in the U.S. and might have expanded off Long Island. Brookhaven would have lost the existing 700 jobs, the additional 400 jobs, and the nearly $60 million capital investment.

 

Project Solution
With the assistance of the IDA, the company is bringing its expansion to completion. The project also received $3 million through the state’s regional economic development council program.