Governor Tony Evers joined with the owners of Nexus Pharmaceuticals, Inc., Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes, and local leaders celebrated the ribbon-cutting of Nexus Pharmaceuticals’ new manufacturing facility in Pleasant Prairie.
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Nexus Pharmaceuticals is a woman-owned, privately-held pharmaceutical company based in Lincolnshire, IL that produces specialty and generic injectable drugs relied upon by hospitals across the United States. The Pleasant Prairie manufacturing facility will support the production and supply of drugs in an array of therapeutic areas, including anesthesia, oncology, cardiovascular, and neurology.
The multi-phase project is expected to be completed within ten years, with an estimated total investment of $250 million. As part of the project’s first phase, Nexus will hire more than 77 workers in the fields of high-tech production, engineering, quality control, and supply chain management, at an average annual salary of $70,000.
The WEDC is supporting the project by authorizing up to $1.5 million in state income tax credits over the next four years. The actual amount of tax credits Nexus will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
Economic modeling analysis conducted by WEDC indicates that in addition to the creation of 77 jobs at Nexus’ Pleasant Prairie location, the project could indirectly generate 134 additional jobs in the region.
Those 211 total new jobs are expected to generate up to $512,000 annually in state income tax revenue. The construction phase of the project could directly support an additional 237 jobs and a total of 379 direct and indirect jobs.
Nexus’s facility is located in the Prairie Highlands Corporate Park, located along Interstate 94 north of Highway 165, where it joins German candy producer HARIBO and healthcare provider Advocate Aurora among the initial occupants of the park. ■