Abbott Labs to add jobs with increased funding

The Development Financing Advisory Council has approved a $1.5 million loan for Abbott Laboratories through the Ohio Department of Development.

Abbott will use the funding for the purchase of machinery and equipment at their new Tipp City facility. With the money, the compnay has committed to more than 240 new, full-time jobs with an average wage of $24.21 an hour.

“Abbott Labs’ decision to build a new facility in Tipp City is welcome news for the Miami Valley,” Beagle said. “It is exciting to see both our economy and community on the rise as Ohio continues to compete aggressively for new businesses and new jobs for its workers.”

Total investment for the Tipp City project is $145 million, with Abbott Labs contributing $139.2 million in private funds.

Abbott Laboratories is a global broad-based healthcare company devoted to the discovery, development, manufacturing and marketing of pharmaceuticals and medical products. The Tipp City facility will provide aseptic bottle filling and packaging capabilities for the company’s aseptic liquid products, including Ensure, PediaSure and Glucerna.