Perrigo moving its North American HQ downtown
Perrigo is investing $44.7 million to move its North American corporate headquarters to Medical Mile in downtown Grand Rapids in a move that will create 170 jobs.
The Right Place, in collaboration with the Michigan Economic Development Corporation (MEDC), Michigan State University, Rockford Construction and the city of Grand Rapids, on Tuesday announced the Dublin-based pharmaceutical manufacturer Perrigo Company will establish its new North American corporate headquarters in downtown Grand Rapids, at 430 Monroe Ave. NW on the north side of Michigan State University’s Grand Rapids Innovation Park.
In addition to a capital investment of $44,782,094 over the 15 years of the lease offset by $3.7 million in state incentives and other collaborator commitments, the expansion will bring more than 170 new jobs to the area, Perrigo said.
Founded in 1887 in Allegan, Perrigo is a global provider of private label over-the-counter drugs that has been working to transition to a consumer-focused self-care products company during the past couple of years, including by acquiring the oral care businesses Ranir, Steripod and High Ridge Brands in 2019 and early 2020.
The company, which employs more than 4,000 people in West Michigan and 11,000 globally, has local operations in Grand Rapids, Holland and Allegan.
The new, 63,550-square-foot office is being built by Grand Rapids-based Rockford Construction. The office space primarily will house corporate and functional leadership and certain administrative roles and will feature “adaptable workspace to promote collaboration opportunities.”
“Perrigo established its roots in West Michigan more than 130 years ago. Since then, we’ve become an industry leader and created thousands of jobs in the region,” said Murray Kessler, president and CEO of Perrigo. “We are excited to continue our growth surrounded by organizations that share our passion for self-care in the heart of a thriving city. We are thankful for all of those involved in making this project a reality, especially Gov. (Gretchen) Whitmer, The Right Place and their partners at the MEDC.”
The Right Place worked closely with Perrigo, MEDC, Michigan State University and other community partners to ensure the company continued its growth in the region rather than out-of-state locations that were considered in Chicago and Florida.
The MEDC’s Michigan Strategic Fund awarded Perrigo a $2 million Michigan Business Development Program performance-based grant to support the expansion.
“Since 1996, Grand Rapids has been investing in its now world-renowned health industry cluster focused on improving the lives of consumers and patients,” said Birgit Klohs, president and CEO of The Right Place. “The Medical Mile is a thriving hub for research and innovation, and Perrigo’s decision to establish its North American corporate headquarters here further solidifies the Medical Mile and downtown Grand Rapids as a destination for business success.”
West Michigan’s life science and medical device industries are growing at a rate of 18.5%, outpacing the national average by more than double its growth rate of 9%.
“The Perrigo team is passionate about a lot of things, but our purpose is found in the empowerment we provide consumers to take control of their own health and in a way that makes self-care accessible and inclusive for everyone,” said Rich Sorota, executive vice president and president, consumer self-care Americas. “We believe our new space will enable meaningful collaboration for our teams, and it places us in the epicenter of an innovation hub and amidst a full continuum of research, health care delivery and consumer wellness organizations that can provide inspiration for Perrigo’s growth strategy.”
The city of Grand Rapids will consider a property tax abatement in support of the project.
“This headquarters announcement solidifies the competitive advantage Grand Rapids provides to global companies like Perrigo,” Grand Rapids Mayor Rosalynn Bliss said. “We look forward to their investment and its impact in Grand Rapids and the West Michigan region.”
Dr. Norman Beauchamp Jr., MSU’s executive vice president for health sciences, said the university is excited Perrigo will be a major tenant in the MSU Grand Rapids Innovation Park.
“The focus of the innovation park is to bring industry together with academic research and clinical care along the Medical Mile in order to transform health care together,” he said. “We are looking forward to significant opportunities to collaborate with Perrigo on efforts to improve access to and affordability of health care.”
Mike Mraz, president of real estate development at Rockford Construction, said Health Innovation Partners, a real estate development joint venture between Rockford Construction/Rockford Development Group, Walsh Construction/Walsh Investors and Murphy Development Group, is “proud to be a partner in the continued development taking place at the Michigan State University Grand Rapids Innovation Park.”
“With the addition of Perrigo’s corporate headquarters, the innovation park further anchors the city’s expanding Medical Mile, offering groundbreaking research, technology and advancements to the health and medical industries,” Mraz said.
Whitmer said the investment will be good for Michigan.
“The decision … underscores the strength of Michigan’s business climate and our talented workforce,” she said. “This is great news for Michigan workers, their families and our economy as we continue to move forward with economic recovery and growth here in our state.”
Posted By: Grand Rapids Business Journal on October 27, 2020. For more information, please click here to read the source article.
To receive the In The Know from Signature Associates, please click here to be added to our mailing list.
« Back to Insights