Portage officials are considering property tax breaks for a $465 million expansion project by Pfizer Inc.
The company is seeking the tax exemption from the city of Portage a two-story, 400,000-square-foot sterile processing facility. MLive.com reports Pfizer has told the city the project will lead to 140 additional jobs within two years and 450 jobs within six years.
Portage Mayor Patricia Randall says the project is important because it shows Pfizer’s long-term commitment to the city just south of Kalamazoo.
The tax-break proposal would save Pfizer about $11.5 million over 12 years. The city could have a public hearing on the plan in April.
Pfizer’s manufacturing campus in Portage already includes more than 120 buildings. (AP)