ASHLAND -- Last week, Governor Mike DeWine announced statewide assistance that will fuel the creation of 140 new full-time positions at Charles River Laboratories’ Ashland location.
According to the company’s corporate vice president of public relations and corporate communications Amy Cianciaruso, the assistance comes in the form of a 1.392 percent, eight-year Job Creation Tax Credit from the Ohio Tax Credit Authority and is expected to spur $5.6 million in new annual payroll and retain $46.4 million in existing payroll as a result of an expansion project.
“(It) recognizes our commitment to expand our workforce in Ohio,” Cianciaruso said. “Charles River has been a trusted partner to the biotech and pharmaceutical industries since 1946, and we are proud to have three locations across the state of Ohio.
“These incentives will support the expansion of our facility in Ashland, previously part of WIL Research, which we acquired in 2016.”
Cianciaruso did not speak about the types of jobs that will be created through the credit.
Headquartered in Wilmington, Massachusetts, Charles River Laboratories announced its plans to take ownership of WIL Research in January 2016. The company agreed to acquire WIL Research for approximately $585 million in cash, according to Business Wire.
This acquisition was described as one that would “enhance Charles River’s global footprint, scientific capabilities, and access to growing end markets.” It was called a “compelling value proposition for both clients and shareholders.”
Charles River provides pre-clinical and clinical laboratory services for the pharmaceutical, medical device, and biotechnology industries. It currently has approximately 70 locations in 16 countries.
Its Ashland facility, located at 1407 George Rd., “provides industry-leading safety assessment services to help accelerate critical therapies through the preclinical research phase, ensuring that they are safe and effective for patients,” according to Cianciaruso.