It’s McKesson Corporation!

Leading pharmaceutical distributor locating in CL

The McKesson Corporation, the largest pharmaceutical distributor in North America, was introduced Thursday as the future tenant of a 340,000 square foot building under construction in the city’s Larry Luker Memorial Industrial Park.

Clear Lake city officials made the announcement at 8:35 a.m. to coincide with an agenda released by the State of Iowa’s Economic Development Commission which identified McKesson as an applicant for $4.6 million in state tax credits, as well as a $170,000 forgivable loan.  On Friday the state incentives, offered through the High Quality Jobs Program, were awarded.

More than 100 people packed the new Council Chambers at City Hall to hear the announcement of the “mystery company” which will create 164 jobs with an average salary of $39,000.  

McKesson, founded in 1833 and based in San Francisco, Calif., is ranked 15th on the Fortune 500 with more than $137.6 billion in annual revenue.  The company delivers vital medicines, medical supplies and health care information technology solutions.  McKesson serves more than 50 percent of American hospitals, 20 percent of physicians and 100 percent of health plans, and  delivers one-third of all medications used there every day.

City Administrator Scott Flory made the announcement, noting the city’s successful recruitment, which included a high degree of secrecy, has set the stage of “unprecedented and catalytic investment in our community.”

The $65 million project is expected to have an estimated impact of $310 million over the next 10-years.

“I don’t think there are very many communities that could work a project this way and make it happen the way we did,” said Flory.

Flory said there was great due diligence done in pursuing McKesson, but recruitment efforts were complicated by the company’s insistence that its identity remain anonymous.  None of Clear Lake’s City Council members knew the company when they approved a local incentive package which included a $1.675 million, 10-year forgivable loan used for land acquisition and site development, and a property - Read More Via e-Edition