NEW ALBANY, Ohio — The Ohio Tax Credit Authority has approved a 30-year Job Creation Tax Credit for Bayer U.S. LLC’s planned pharmaceutical manufacturing campus in New Albany, the largest single jobs commitment in a package of ten projects the state approved on Monday, October 26, according to the Ohio Department of Development announcement reported by The Columbus Dispatch.
The authority approved a 2.16 percent, 30-year tax credit for the Bayer project, The Columbus Dispatch reported. Bayer expects to create 606 full-time-equivalent positions generating $69 million in new annual payroll by December 31, 2034, according to the Dispatch’s reporting on the authority’s action.
Statewide, the ten approved projects are expected to create 1,359 jobs, retain another 1,824 positions and generate more than $142 million in new annual payroll, according to the Department of Development announcement. The projects span pharmaceutical manufacturing, medical equipment, industrial technology and artificial intelligence consulting, the announcement said.
The tax credit is the state’s formal incentive step for a project Bayer first announced on October 2. In that announcement, Bayer said it would invest $2.2 billion in a 200-acre campus at the New Albany International Business Park, with a drug substance module scheduled to open in 2031 and a finished drug product module to follow in 2034, producing medicines for cancer, heart disease and kidney disease. The company estimated about 1,500 construction jobs during the build.
“Bayer’s investment builds upon the momentum we are creating both locally and statewide, including the recently announced Ohio Life Science Training Center,” New Albany Mayor Sloan Spalding said in the October announcement. Spalding noted in the announcement that the business park will also be home to the $35 million biomanufacturing training facility, described in the announcement as the first of its kind in Ohio.
The campus is planned as a flexible, modular site combining drug substance and drug product manufacturing with advanced automation and digital technology, according to Bayer’s announcement. The company said in the announcement that it intends the New Albany facility to anchor a broader U.S. collaboration network linking academic research with advanced pharmaceutical manufacturing.
For New Albany and the wider Columbus region, the approval moves the project from announcement to a long-dated state commitment: the 606 positions are not due in full until the end of 2034, and the second production module is not planned until that same year. In the meantime, the $35 million Ohio Life Science Training Center in the business park is slated to begin preparing the biomanufacturing workforce the campus will eventually hire.
Bayer has also said it will seek assistance from JobsOhio, with details of that support to be released after a final agreement is completed, according to the company’s announcement. Construction timing for the first module has not been announced.
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