Gov. Andrew Cuomo on Wednesday announced Corning Incorporated (NYSE: GLW) has chosen to manufacture its new pharmaceutical packaging line, Corning Valor Glass, in the Southern Tier. The state offered the company a $6 million grant and nearly $2 million in tax credits as incentives to conduct the work in the $95 million project in the Southern Tier. (Photo credit: Cuomo flickr page)
Corning Incorporated (NYSE: GLW) will manufacture its new pharmaceutical-packaging line, Corning valor glass, in the Southern Tier.
The $95.5 million project will create 185 jobs in the region by 2020, the office of Gov. Andrew Cuomo announced Wednesday.
The company will locate the new jobs at the Corning innovation-support center in Big Flats and at Corning’s research and development facility at Sullivan Park in Erwin. Cuomo’s office describes valor glass as a “revolutionary” pharmaceutical-glass packaging product that enhances the storage and delivery of today’s drug formulations and will provide “more reliable access to medicines essential” to public health.
To “encourage” Corning to grow its pharmaceutical operations in the region, Empire State Development has offered up to $6 million through the “Southern Tier Soaring” Upstate Revitalization Initiative.
The company will use the grant to purchase manufacturing equipment and to make infrastructure improvements.
Corning will also receive up to $1.75 million through the Excelsior tax-credit program in exchange for job-creation commitments.
Developing and manufacturing valor glass in the Chemung Valley is part of Corning’s plan announced in July to invest $500 million and create 1,000 new jobs in the U.S.
To further support the production and delivery of valor glass, Corning will also add jobs in the future at an existing facility in Vineland, New Jersey and at a location in the Southeast U.S.
Over time, Corning plans to invest $4 billion and create 4,000 new high-tech jobs.
Valor glass is designed to address a number of problems in the glass injectable pharmaceutical market.
Those problems include damage, breakage, and particulate generation on high-speed pharmaceutical filling lines and in the supply chain, and incompatibility of drugs with borosilicate glass containers which can lead to glass delamination.
Contact Reinhardt at ereinhardt@cnybj.com
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