Summit Biosciences Expansion in Right To Work Kentucky

Originally only expected to create 21 new jobs, Summit Biosciences Inc now expects to create 78 new jobs. Since Summit Biosciences Inc has decided to put its focus in combatting COVID-19, it is expanding its operations to produce more medicine. Now, the new production lines will also be bringing in growth and employment opportunities to Lexington in Right to Work Kentucky.

From Area Development Magazine:

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in July gave final approval to a modified 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.5 million in tax incentives. [This is] based on the company’s investment of $19 million and annual targets of creation and maintenance of 78 Kentucky-resident, full-time jobs across 10 years. […]

“Summit Biosciences has not only been dedicated to creating well-paying jobs for many of our residents, but has also been committed to advancing the greater good in our community by donating PPE items earlier this year to organizations in need and implementing innovative strategies to address the current pandemic.”

AREA DEVELOPMENT MAGAZINE

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