Teva Pharmaceuticals USA wants to expand again in Overland Park.
On Monday, the City Council unanimously endorsed the pharmaceutical company’s request for help with renovation of the former Fitness Plus More building at 4500 W. 107th St. The vote declared the city’s intent to issue $16 million in economic development revenue bonds for Teva’s expansion.
Teva, in papers filed with Overland Park City Hall, explained that it wants to move about 48 employees working in its specialty pharmacy practice to the former fitness building. The company added that the move will allow it to continue expanding its workforce at its headquarters about a mile away at 111th Street and Nall Avenue.
That’s where Teva relocated in 2013 from its prior location at Interstate 435 and Holmes Road in Kansas City.
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The move came with a raft of local and state relocation incentives, but Overland Park imposed several terms for Teva. Those included maintaining full-time employment of 350 employees and another 50 contract employees in order to continue receiving tax benefits from the city.
Teva says the expansion to the Fitness Plus More building won’t detract from those employment requirements. Teva employs 378 full-time workers and 155 contract workers at its Overland Park headquarters, with plans to grow by 50 to 100 employees.