By Scott Turner
A pharmaceutical technology company has selected Huntsville as its new home.
A pharmaceutical technology company has selected Huntsville as its new home.
The Huntsville City Council approved a development agreement with Glaukos Corporation to build a multimillion-dollar research, development, and manufacturing facility in Cummings Research Park.
Huntsville Urban and Economics Development Director Shane Davis said the company evaluated more than 100 cities before selecting Huntsville. He said finalists were located across six states.
The multi-year project carries an $82 million capital expenditure and will bring 154 full-time jobs to the region by 2030.
The facility will be built on 25 acres at the corner of Mark Smith Drive and Explorer Boulevard, at the north end of the HudsonAlpha Institute for Biotechnology. The agreement includes an option for 15 additional acres for future expansion.
The company’s commitment is to build one or more buildings totaling a minimum square footage between 180,000 and 200,000 square feet in the first phase.
“This is our biotech campus, if you will, of what we are growing in Research Park” Davis said. He said the area was master planned to grow that sector in the community.
“This is a step in that direction,” he told the council.
Davis said HudsonAlpha played a major role in “showcasing what Huntsville is all about.”
“This fits right into conversations with executives out at HudsonAlpha,” Mayor Tommy Battle said. “It fits into the game plan of what we want to eventually see. … We like research, we like design. We like development, which is what they all will be doing.”
Glaukos is a leader in ophthalmology focused on developing and commercializing novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases.
The company’s commitment includes an average wage requirement of $34.66 an hour that comes out to just under $72,000 a year per job, Davis said. There is a five-year ramp up to get to full employment. Half of the workforce must work at the company’s facility in Cummings Research Park and not telework.
Glaukos’ headquarters are in Aliso Viejo, California, with additional locations in San Clemente, California, and Burlington, Massachusetts as well as other regional office spaces internationally.
“The city of Huntsville has a highly educated and skilled workforce and a stable and diversified economy in a business-friendly environment,” Glaukos Senior Vice President Matt Young said in a news release. “Huntsville has recently and consistently ranked highly in surveys of the best places to live in the U.S. As a leader in designing and delivering novel ophthalmic products, Glaukos believes a location in the Cummings Research Park aligns with our strong innovation values.”
Glaukos site selection team noted the community’s collective science and technology strengths strongly factored in their decision.
“Glaukos’ investment in Huntsville speaks to our continued success in being a community of choice for biotech research and manufacturing,” Battle said. “CRP offers the desired environment for companies that want to capitalize on our assets and achieve long-term success in advancing medical solutions for society.”
“We welcome Glaukos to the HudsonAlpha ecosystem, to Cummings Research Park, to Huntsville and to Alabama,” said Neil Lamb, president of HudsonAlpha. “We’re excited to have Glaukos in our community and are thankful to have wonderful partners in the City of Huntsville and the Huntsville/Madison County Chamber on this project.”
Cummings Research Park is the second-largest research park in the United States and fourth largest in the world. It is home to more than 300 companies, more than 25,000 employees, and 12,500 students.
“CRP is truly one of the world’s leading science and technology parks, where companies come to be successful because of the businesses, collaboration, and ultimately, because we thrive in Huntsville. We welcome Glaukos as they join Huntsville’s mix of local and international high-tech enterprises,” said Erin Koshut, the park’s executive director.
Site preparation for Glaukos’ facility is expected to start next year.
The city’s commitment includes agreeing to a purchase and sales agreement of the 25 acres to the company, and allowing the company the option of a 15-acre site.
“We’re very careful in managing our land in Park, what we have left,” Davis said. He said the company must show the need for the additional land.
Davis said the city expects a $40 million return on investment in a 20-year period.