After investing $100 million in NC, company finally gets OK to make new drug in the US

URLhttps://www.charlotteobserver.com/news/business/ar
SourceThe Charlotte Observer
Date Published07/03/2018
Author NameHannah Lang
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Glenmark North America
Parent companyGlenmark Pharmaceuticals
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):130
Year reshoring announced:2015
Year reshoring implemented or to be implemented:2018
Domestically, the work will be done:In-house
Capital investment ($):100
Country(ies) from which reshored:India
City reshored to:Monroe
State(s) reshored to:NC
If relevant, work nearshored to:-
Industry(ies):Chemicals
Product(s) reshoredPharmaceuticals
What domestic positive factors made reshoring more attractive?Government Incentives, Impact on domestic economy, Proximity to customers/market, Skilled workforce availability/training
Government Incentive dollar amount:$500,000
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