Aug. 27--The drug wholesaler
No. 28 on the Fortune 500 list of America's biggest companies, AmerisourceBergen's revenue increased 38.5 percent to $30.3 billion in the quarter ending June 30 compared with the same period a year earlier, primarily because of a 2013 deal to supply Walgreen drugstores and British-based Alliance Boots.
AmerisourceBergen will spend at least $10.3 million to remodel an existing office building along the Schuylkill in Montgomery County.
"Over the past few years AmerisourceBergen has experienced tremendous growth as we execute on our key initiatives," chief executive officer Steve Collis said in a statement issued through Gov. Corbett's office. "In pursuit of continued growth it has become necessary to expand our presence in the Philadelphia area. This will give us the opportunity, in both our new and current locations, to make our associate work experience even more collaborative, rewarding and efficient."
AmerisourceBergen has about 13,000 employees, with about 1,000 in Pennsylvania, including about 850 in the Philadelphia area.
The state Department of Community and Economic Development will provide the company with a $675,000 grant after the construction work is completed, and $555,000 in job-creation tax credits after the new jobs are filled.
In a statement, Corbett said the investment of public money was a "commitment for the future of the life sciences industry that remains a keystone of Pennsylvania's economy."
Sharon Ward, executive director of the Pennsylvania Budget and Policy Center, said that this state assistance was not as egregious as some, but that taxpayers often don't benefit when states bid against one another. "They are often giving money for things companies have already decided to do," Ward said.
AmerisourceBergen has a lease through 2020 for Millennium III, one building in a complex owned by O'Neill Properties.
"The easily accessible Millennium III gives AmerisourceBergen the opportunity to continue to attract top talent to our company as we look to increase our workforce in the region," Collis said.