InvaGen Pharmaceuticals has announced it plans to invest $39 million in an aggressive expansion plan that will create 350 new jobs over the next five years in Suffolk County. Gov. Andrew Cuomo announced InvaGen’s expansion plans Monday, saying the pharmaceutical company would be utilizing $1.8 million in Excelsior Jobs Program tax credits from Empire State Development Corp. to offset some of the cost of building a new 250,000 square foot facility in Central Islip. The company is currently based in Hauppauge. In addition to the infusion of cash from the state, the Town of Islip Industrial Development Agency is also providing $3.5 million in property tax abatements, $105,000 in mortgage recording tax savings and $172,500 in sales tax exemptions over the next nine years.
