The Stevanato Group, an Italian firm, has decided to setup operations in the United States and has decided it is coming to Fishers. According to a Thursday morning news release from The Indiana Economic Development Corporation, the company plans on hiring 230 people by the end of 2025.
“Central Indiana is well positioned to support exponential growth in the life science and advanced manufacturing industries,” said Fishers Mayor Scott Fadness. “As we continue to see an emerging life science cluster here in Fishers, we believe that Stevanato Group’s decision to invest in Fishers underscores the opportunity for growth. We are looking forward to welcoming Stevanato Group to our community.”
Stevanto started in 1949 and provides drug containment products, analytical services and tests to support the drug development process, plastic components for diagnostics and medical devices, as well as contract manufacturing services for drug delivery systems, according to the news release.
This package will include both state and city economic incentives. The Indiana Economic Development Corporation offered Stevanato Group up to $2.9 million in conditional tax credits and up to $500,000 in conditional training grants based on the company’s job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and trained. The city of Fishers will consider additional incentives up to $1.2 million.
“We are excited to locate our new U.S. hub in Fishers, Indiana, which will enable us to better serve our North America pharmaceutical customers,” said Howard Drake, Stevanato Group vice president, U.S. business development. “We are looking forward to joining the Fishers community, which shares our commitment to the pharma and health care industries, and to being a part of the new pharmaceutical and life sciences park the city is developing.”
Stevanato Group employs more than 4,300 around the globe. The new Fishers location will offer a variety of employment opportunities in production, engineering, maintenance and other corporate support positions. Information on open positions will be made available online.
“Indiana continues to secure extraordinary growth in life sciences throughout the state, and we’re thrilled to add Stevanato Group to our list of innovative life sciences companies,” said Governor Eric J. Holcomb. “The life sciences industry contributes roughly $80 billion to the state’s economy, and we are committed to ensuring a thriving business climate that allows these firms to continue to grow and provide quality Hoosier careers.”
Stevanato expects to invest up to $145 million to build and equip a manufacturing facility of up to 370,000-square-foot to support the expansion and production of its EZ-Fill® products. Plant construction is expected to begin later in 2021 with production commencing in 2023.
The state news release does not specify where in Fishers this facility is to be located.