CORNING PHARMACEUTICAL GLASS APPROVED FOR GROW NJ AWARD
13 Jun, 2016
VINELAND, NJ: The New Jersey Economic Development Authority (EDA) recently voted to approve a 10-year, $8.3 million Grow NJ award for Corning Pharmaceutical Glass LLC located in Vineland, New Jersey. The EDA administers the legislatively-created Grow NJ program, the primary program for job creation under the Economic Opportunity Act (EOA) of 2013.
Corning Pharmaceutical Glass is a world-leading supplier of high-quality glass tubing to the pharmaceutical packaging industry. The companymanufactures a variety of clear and amber borosilicate glass tubing, which is converted by their global customers into vials, cartridges, ampules, and syringes for drug storage and delivery. The Grow NJ award will encourage Corning to invest in Vineland, where it employs 185 full-time positions, and will yield a net benefit of $20.4 million back to the state over a 20-year period.
Corning’s Vineland facility was acquired as part of a recent deal with Gerresheimer AG. As part of the deal, Corning and Gerresheimer also formed an equity venture to focus on accelerating Corning innovations for the pharmaceutical glass packaging market.
“The Grow NJ program is designed to enhance New Jersey’s business attraction, retention, and job creation efforts and strengthen the State’s competitive economic edge,” said EDA Chief Executive Officer Melissa Orsen. “Manufacturing companies like Corning Pharmaceutical Glass are so critical to our economy for the skilled jobs they provide and the dynamic business ecosystem they foster by engaging supplier and partner companies in the surrounding area.”
“Corning would like to thank the New Jersey EDA for the Grow NJ award and the Vineland Economic Development Department for their strong leadership and support. We see this as a tremendous opportunity to expand our portfolio by leveraging our corporation’s core technologies, which would not be possible without our skilled workforce in the Vineland community,” said Brad Boersen, board chairman, Corning Pharmaceutical Glass, LLC.
“We are very excited about the EDA’s approval and the positive impact this will have for the city moving forward,” said Vineland Economic Development Director Sandy Forosisky. “We have been seeing sustained growth in our Scientific Glass, Food Processing, and Cold Storage sectors over the last three years which are adding hundreds of new jobs for Vineland residents. This announcement adds to the momentum, and we hope the award will pave the way for Corning to further expand their operations in Vineland.”
“When companies are making commitments and investments of this kind, it shows they have a real interest in our community,” Forosisky continued. “We want to be a partner and to do all we can to help. We are proud to have an international brand like Corning located in Vineland, and we look forward to working with them in whatever capacity they may need for several years to come.”
The City of Vineland Economic Development Department is a catalyst for public and private initiatives that create growth opportunities and new jobs. The department serves as a single resource and point of contact for companies, site selectors, brokers, corporate real estate executives, and entrepreneurs looking to start-up, expand, or relocate. For more information, please call (856) 794-4100 or visit www.VinelandBusiness.com<http://www.vinelandbusiness.com/.
For more information about this press release, please contact Michael Tofanelli at 856-691-3113.