Tuesday, September 22 2009
Mead Johnson Nutrition (NYSE: MJN) is expanding its Evansville operations over the next year and adding 35 jobs. The pediatric nutritional company will invest nearly $33 million in equipment and building improvements for a powder infant formula production line at one of its existing facilities. Mead Johnson employs approximately 1,200 workers at its Evansville-based North American production headquarters. EVANSVILLE, Ind. (Sept. 21, 2009) — Mead Johnson Nutrition (NYSE:MJN), a pediatric nutritional company, announced today that it will expand its operations here, creating up to 35 new positions by 2010. Best known for its infant formulas, Mead Johnson will invest $32.8 million in equipment and building improvements needed to bring a powder infant formula production line to one of its existing facilities located on the Lloyd Expressway. “From Fort Wayne to Evansville, well-known, global companies have recognized the value of doing business in our state,” said Governor Mitch Daniels. “Mead Johnson’s expansion and commitment to Indiana brings new, high-paying jobs for Hoosiers and reinforces southwest Indiana’s economic strength.” Mead Johnson employs approximately 1,200 associates at its Evansville-based North American headquarters. Also located in Evansville is the Evansville Supply Center, where Mead Johnson develops, manufactures and packages liquid infant formulas. The company plans to begin staffing the additional manufacturing positions over the next year as the new powder production line is phased in. “The additional manufacturing capacity will enhance the company’s ability to respond to the growing consumer preference for powdered infant formula products,” said Jeff Jobe, Mead Johnson senior vice president, global supply chain. “The new facility will allow us to better meet consumers' needs and help fulfill our mission to create nutritional brands and products trusted to give infants and children the best start in life.” Founded in 1905, Mead Johnson markets more than 70 products in over 50 countries in North America, Latin America, Europe and Asia, employing 5,300 associates worldwide. The Indiana Economic Development Corporation offered Mead Johnson & Company up to $3.25 million in performance-based tax credits and up to $28,500 in training grants based on the company’s job creation plans. The city of Evansville will create a tax increment financing district which will allow Mead Johnson to capture and reinvest property taxes into its business and it will offer an additional property tax phase-in. “This investment proves that Evansville has created the right climate to attract new business at a time when there is such strong competition among cities for new jobs,” said Mayor Jonathan Weinzapfel. “We are pleased that we are able to continue our partnership with Mead Johnson and create additional jobs and investment in our community.” Mead Johnson’s growth in Indiana comes just over a month after Dow AgroSciences announced that it would expand its biotechnology research operations in Indianapolis, creating 100 new jobs. Since the IEDC was created in 2005, more than 60 life science companies have committed to create 10,000 new jobs and invest more than $1.1 billion in their Indiana operations. About Mead Johnson About IEDC Source: Indiana Economic Development Corporation http://www.insideindianabusiness.com/newsitem.asp?ID=37795 Comments:
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