Today, Governor Tom Wolf announced that AmerisourceBergen, a global health care solutions provider, currently headquartered in Chesterbrook, has selected Conshohocken as the location to expand its national headquarters.
According to Philly.com, the selected site is SORA West at the corner of West Elm Street and Fayette Street. This area is approved for a not-yet-built hotel and two larger office buildings and a parking garage to replace smaller ones that already exist. Keystone Properties owns the site.
From the press release:
“This project is so significant not just because one of the world’s largest pharmaceutical distributors is expanding its headquarters here, but because of the magnitude of that expansion,” Governor Wolf said. “This expansion will create more than 550 jobs in IT, management, accounting, and human resources that will provide family-sustaining wages to so many workers in the region and bring a significant boost to the regional economy. Opportunities like this are rare, so to have AmerisourceBergen commit to Pennsylvania for its future growth is truly exciting news. I applaud AmerisourceBergen and welcome them to many more years of success here in the commonwealth.”
AmerisourceBergen considered four sites in Conshohocken and others in the region. The new headquarters will combine its current satellite location in Conshohocken with its corporate office in Chesterbrook, which will create a new 400,000-square-foot facility. According to the press release, AmerisourceBergen will invest at least $29.5 million into the project, which is expected to create more than 550 jobs in the next five years at the project site and retain a further 1,902 jobs across the state. The project is also expected to spur further redevelopment and job creation in Conshohocken (this is an important point, which we will come back to tomorrow).
The project is going to receive some sweet public money. From the press release:
AmerisourceBergen received a funding proposal from the Department of Community and Economic Development (DCED) for $1,659,000 in Job Creation Tax Credits to be distributed upon the creation of new jobs. The proposal also includes an $8 million grant from the Redevelopment Assistance Capital Program to assist with facility development and construction costs. The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.
What is AmerisourceBergen? It is a pharmaceutical wholesale distributor “that provides value-driving services and business solutions that improve access to care.”
There is a lot more to come about this. Back later.
Photo: The hotel as proposed during the approval process looking from the bridge. Keystone Properties.