Venezuela's Unipharma to invest $50 million, create 100 jobs in Tamarac

Written by WorldCity Staff on 19 August 2013. Posted in South Florida Business News

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Venezuelan pharmaceutical company Unipharma is setting up U.S. operations and plans to create 100 jobs to Tamarac in Broward County over the next three years, officials announced Monday.

The company plans to invest $50 million in a new U.S. headquarters that will use proprietary technology to produce pharmaceuticals, functional foods and nutraceuticals. Pay for its new employees is expected to average $49,555 per year, or 115 percent of the county’s average annual wage, executives said.

To encourage that investment, Unipharma will receive $500,000 in performance-based incentives through Florida’s Qualified Target Industry tax incentive program over the next seven years, according to the county’s economic development group, the Greater Fort Lauderdale Alliance.

“We are happy to say that we have begun another chapter in our company’s history with our new manufacturing site in Broward County," said Reinaldo Santa Marta, CEO of Unipharma, said in a statement that unveiled plans for the 135,000-square-foot facility.

Unipharma had considered setting up operations in Atlanta or in Madrid, Spain. It chose Broward because of its strong connectivity to international markets by sea and air, a growing life sciences cluster, a focus on contract manufacturing in pharmaceuticals and access to top talent, the statement said.

For WorldCity news published in March on efforts to lure the Venezuelan company to Broward, click here


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