The company, one of the nation's largest distributors of pharmaceuticals, announced in early November that it had chosen the Indianapolis area instead of Louisville for the facility, which will create about 1,300 high-paying jobs.
At that time, Medco narrowed its selections to three counties in central Indiana. The company selected Boone County in part because of its low property taxes and low cost of utilities, according to a news release. Medco said it was attracted to Indiana because of the state's "business-friendly environment, modern transportation infrastructure, skilled labor pool and proximity to several schools of pharmacy."
As Business First reported last month, officials with Greater Louisville Inc., the metro chamber of commerce, have blamed a slow-moving bureaucracy in Kentucky for missing out on the $140 million facility.
The Kentucky Economic Development Finance Authority board gave the project preliminary approval for as much as $30 million in state tax incentives for up to 10 years.
The Indiana Economic Development Corp. offered Medco as much as $18.25 million in tax credits and up to $850,000 in training grants. Boone County offered a $5 million cash grant for infrastructure and technology purchases, and Whitestown offered $7.8 million in property tax abatements.
Medco is buying a 28-acre parcel in AllPoints at Anson, a 616-acre development that eventually will be home to 7.4 million square feet of industrial space.
This will be Franklin Lakes, N.J.-based Medco's third automated-dispensing pharmacy; it's others are located in Willingboro, N.J., and Las Vegas.
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source: bizjournals.com
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