The warehouse and office space to be built will house the headquarters of 360 Pharma Group LLC and its subsidiaries including Masters Pharmaceutical Inc., according to a joint release from the Warren County city and the company.
While the move means 360 Pharma’s operations in Forest Park will close, the company’s RxTPL LLC division on Seward Road in Fairfield will remain open and those jobs will be retained, company leaders said.
“We’re building for the future,” 360 Pharma President and Chief Executive Officer Denny Smith said, referring to his companies’ growth. He said the warehouse is running out of room.
“In addition to that, we wanted a campus-like atmosphere for our employees,” he said.
The 360 Pharma Group of related companies includes medical distribution company Masters Pharmaceutical that was founded first in 2001; MHC Medical Products, which manufactures diabetic and other medical equipment internationally and has U.S. FDA approval to market the products in the U.S.; and RxTPL, which provides logistics services such as warehouse storage and order picking and packing for drug manufacturers. Altogether, the companies employee about 325 workers, of which 100 or so will stay in Fairfield, Smith said.
Construction work could begin by the end of April in Mason on the new headquarters site, to be a 47-acre campus. The total investment is about $16 million, Smith said.
“As the facility grows here, we’ll add employees in Fairfield,” he added.
RxTPL LLC opened in Fairfield about five years ago, said Greg Kathman, Fairfield’s economic development manager.
“We’re always excited when existing companies in our community can continue to grow and stay in the community. We benefit from those increased tax revenues,” Kathman said.
“We had a number of them in 2014 — existing companies that are growing, adding employees, building additions. That’s good sustainable, organic growth,” he said.
360 Pharma Group received approval Monday from the Ohio Tax Credit Authority for a 55 percent, 7-year Ohio Job Creation Tax Credit in exchange for the new job creation, which could add $5.2 million in payroll a year, according to information provided by Ohio Development Services Agency. Jobs must be created in order for the company to claim the tax credits.
A growing bioscience industry cluster in Mason also includes mental health hospital Lindner Center of HOPE; AtriCure Inc., a medical device manufacturer that is building a new headquarters on Innovation Way; and Assurex Health, which develops personalized medicines, and announced in January plans to build a new and bigger headquarters facility and clinical laboratory in Mason.
Earlier this month, The Procter & Gamble Co. announced plans to build a new $300 million Beauty Innovation Center at the consumer goods giant's existing Mason Business Center campus and relocate approximately 1,150 research and development staff from Blue Ash to Warren County as part of the project.
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