Gene and cell therapy manufacturing company Genezen is growing.
The Fishers-based company recently announced it plans to invest $40 million to expand its operations in Fishers. The company is planning a multi-phase, 75,000-square-foot expansion at its production facility at 9900 Westpoint Dr., northeast of Ind. 37 and 96th Street. Genezen plans to create 62 new jobs by the end of 2023. The project is under way, and manufacturing suites are expected to become operational in the first half of 2022.
The announcement is the most recent from the city in regard to the new development in the life sciences industry.
“This is an exciting stage of Genezen’s growth journey as we continue to grow and prosper within the Indiana community,” Genezen CEO Ray Kaczmarek stated. “The talent and biotech expertise in Indiana is flourishing, and we are highly confident that we’ll continue to build a world-class team supporting our clients as they bring life-changing therapies to market.”
Genezen employees 34 associates. It announced plans two years ago to employ 36 by the end 2024, a goal it expects to reach by the end of this year.
“Fishers’ life science cluster continues to take a foothold in the industry,” Fishers Mayor Scott Fadness stated. “Our focus on innovation and entrepreneurship laid the foundation for companies like Genezen to find a home that allows them the business environment and talent to directly support biotech innovation right here in Fishers. I look forward to supporting Genezen as they continue to grow.”
The Indiana Economic Development Corp. plans to invest up to $950,000 in incentive-based tax credits, provided Genezen meets its job creation goals. The IEDC also will offer up to $50,000 in training grants. The tax credits are performance-based, meaning the company is eligible to claim credits once investments are made and employees are hired and trained. The Fishers City Council approved additional incentives during its Nov. 15 council meeting.
For more, visit genezen.com.