Monday, December 17, 2012 - 12:05pm
Incyte gets $11M to stay in Del.
A major drugmaker will stay in Delaware after receiving an $11 million grant from the Delaware Economic Development Office's Council on Development Finance.
WDEL's Amy Cherry has the latest.
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Under the deal, Incyte must add more than 260 jobs in three years. Those jobs have to stay in Delaware until 2018.
The money will also go towards a planned expansion though where that's happening remains to be seen. Incyte is keeping the two sites under wraps.
DEDO Director Alan Levin tells WDEL Incyte had options and were threatening to leave the First State.
"They were being courted by Pennsylvania and by New Jersey as well. We didn't want to lose them. We don't get too many shots at jobs that have an average salary of $140,000 a year," says Levin.
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Dave Hastings is Incyte's Chief Financial Officer.
"Delaware, I have to say, showed very, very strong commitment to Incyte as well as our degree of comfort being here in Delaware really was not matched by other states," says Hastings.
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Copyright © May 25, 2013, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
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