Pharmaceutical maker to expand Shreveport facility

Dr. Reddy’s Laboratories, a pharmaceutical company based in India, today announced plans to expand its Shreveport operations. The expansion will create 73 new jobs averaging $37,000 per year plus benefits, retain 161 jobs, and add $16.5 million in capital investment, the governor’s office says, along with an estimated 184 indirect jobs, $7.3 million in new state taxes and $5 million in local taxes over the next 10 years. The state will provide a $2.1 million performance-based incentive grant, and the company plans to use the state’s Quality Jobs Program, industrial tax exemption, and Louisiana FastStart workforce training program. The city of Shreveport and the North Louisiana Economic Partnership provided a local incentive package including waivers for all city permit fees and a 2.75% rebate of local sales taxes. The company’s 300,000-square-foot facility produces Ibuprofen and Silver Sulfadiazine Cream, and the company plans to produce new products at the site after the expansion.