PORTAGE (WKZO-AM) — The Portage City Council has approved the creation of a tax-exempt district, which is a preliminary step to giving Pfizer a 50 percent break on local taxes on their newest construction project.
The pharmaceutical manufacturer plans to spend over $140 million on a new warehouse facility. They also plan to repurpose their current warehouse to manufacture medicine packaged in vials.
Mayor Peter Strazdas asked the question that many in the community have been asking for years, since the drug maker closed it labs in Kalamazoo and closed and demolished the old Upjohn Headquarters across the street: Is Pfizer going to stay? Project manager Bob Betzig said it all depends on whether they can remain competitive with plants in China and India.
He said these improvements will help do that.
Betzig said depreciation alone on the equipment is over three decades and they would want to get their value out of the expenditure.
A public hearing is planned on August 23. They’ll also likely vote on the plan that day as well.
