By SUE SUCHYTA
Sunday Times Newspapers
RIVERVIEW – Ash Stevens is planning to invest $30.2 million in its Riverview pharmaceutical manufacturing facility, City Manager Doug Drysdale announced during the Sept. 21 City Council study session.
Drysdale said he and Community Development Director Dave Scurto received the news Sept. 17 during a Zoom meeting with a company representative.
He said the investment could generate an additional $100,000 a year in property tax revenue for the city.
“They have asked about tax abatements, and Dave has provided them the information on how to apply for those,” Drysdale said. “Once we get that back, we’ll review it, and if we deem it’s a possible, potential thing, we’ll bring it back to the council during a study session, and then we can move forward from there.”
From 2004 to 2009, the Michigan-based pharmaceutical manufacturing company spent $15 million expanding and upgrading the Riverview facility, and between June 2010 and April 2013, it invested an additional $20 million.
The company website states that its Detroit laboratories are being consolidated at the Downriver site.
The company has received past state and local tax breaks to keep production in Michigan.
Ash Stevens has manufacturing facilities in Cambridge, Mass.; Boulder, Colo.; and Osaka, Japan.
(Sue Suchyta can be reached at [email protected])