Township officials are saying that planned expansion of the Novo Nordisk facilities in Plainsboro, which will begin to take shape in a few weeks, is a good indicator for Plainsboro’s draw for corporate businesses, especially given today’s economic climate.##M:[more]##
The Danish drugmaker, which has an 85-year history in producing diabetes products, recently announced that it plans to begin moving into a five-story office building across from its existing site on Route 1 southbound. According to Sean Clements, the associate director of media relations for Novo Nordisk, the company has a five-year lease. The building “is the first of five, five-story buildings to be completed in Princeton Corporate Campus,” expected to total 800,”000 square feet, said a press release from the company.
The $20 million facility will have the capacity for more than 400 employees. “We’re delighted about Novo Nordisk’s commitment not only to the one building, but they have plans to expand further in the future,” said Mayor Peter Cantu, referring to an option agreement the company signed for further expansion at the campus, developed by the Patrinely Group. “When you consider what’s happening in the economy, we think that Plainsboro stands out in some really positive ways.”
Township Administrator Bob Sheehan said township officials would be working with the company to move the process along. There is approval on the site, “although we expect there will be some modifications,” he said. “We see that the process is likely to be quite smooth.”
Further, Sheehan said, “it’s important to the township that not only is Novo Nordisk going to generate tax revenue, but they’ve always been an excellent corporate citizen,” in that the company is always stepping forward to assist with various community initiatives, he said. “For us, it’s a winner in a variety of ways, given the magnitude of this decision, and the fact it is being done in an economy that is so challenging.”
