June 19, 2012

ALEXION PHARMACEUTICALS TO EXPAND IN NEW HAVEN
Global Biopharmaceutical Leader will Create 200-300 Jobs in Elm City

House Chair of the Appropriations Committee Toni Walker today joined Governor Dannel P. Malloy at the announcement that leading biopharmaceutical company Alexion Pharmaceuticals, Inc. will establish its global headquarters at a new facility to be built in New Haven by 2015. The state will support the project through the state’s First Five program.

“This is a huge vote of confidence for New Haven and Connecticut’s investment in bioscience,” Rep. Walker said.

The company will relocate its existing Connecticut workforce of more than 350 employees to New Haven once the facility is complete and expects to create 200-300 new jobs in the state by 2017.

“Fast-growing companies like Alexion are true engines of economic growth. They attract investments, spur production and jobs in other industries, and improve our overall economy. Their decision to grow here in our state is a major step forward in our larger strategy to establish Connecticut as a world-renowned life sciences hub,” Governor Malloy said.

Alexion, which recently joined the prestigious S&P 500 index, is a global leader in the innovation, development and commercialization of life-transforming therapeutic products for patients with severe, life-threatening and ultra-rare disorders.

A homegrown Connecticut company, Alexion was founded in 1992 as a small biopharmaceutical startup in New Haven’s Science Park. Outgrowing that location, the company moved its headquarters to Cheshire in 2000, where it has again outgrown its existing space.

Winstanley Enterprises is developing the $100 million, state-of-the-art, laboratory and office building in which Alexion will be the anchor tenant. The building, which will employ the latest sustainable technology, will stand on a newly developed urban boulevard at 100 College Street. This area, known as Downtown Crossing, will undergo significant improvements and will include:

• A 400,000+ square-foot facility for office, laboratory, R&D, and retail;
• A separate 600-800 space parking garage;
• Street-level retail shops and cafés along College Street;
• Infrastructure improvements including surrounding road improvements, rehabilitation of the College Street Bridge and access to the neighboring Air Rights garage; and
• Overall pedestrian and bike enhancements in the area.

The state is supporting the project with up to $51 million in assistance through the First Five program, which is administered by the Department of Economic and Community Development (DECD). A breakdown is as follows:

• A 10-year loan of $20 million at a rate of 1% with principal and interest deferred for five years. Loan forgiveness of $16 to $20 million will be based on the creation of 200-300 full-time jobs;
• A $6 million grant for laboratory construction and equipment;
• Urban and Industrial Sites Reinvestment Tax Credits of up to $25 million.