Major Company Set to Invest Millions of Dollars in Mississauga
When one door closes, another one opens.
This week, tech giant Microsoft announced that it would be moving its headquarters (currently located in Mississauga) to Toronto in 2020.
But while that wasn't amazing news for the city, another major company is about to soften the blow in a big way.
Recently, the City of Mississauga announced that pharmaceutical company GlaxoSmithKline (GSK) Canada is going to invest $36 million in Mississauga.
The investment will be used to further strengthen the company's manufacturing facility in Mississauga, enabling facility improvements, equipment purchases and enhanced manufacturing capabilities.
GSK's Mississauga facility will also soon begin producing Voltaren, a consumer health brand in Canada for pain relief.
“I’m thrilled that GSK has decided to grow and expand their business here in Mississauga,” said Mississauga Mayor Bonnie Crombie.
“Our City is proud to be home to Canada’s second largest life sciences cluster and today's investment is proof that our strategy to support its growth is working. Together, we will take innovation all the way to commercialization in Mississauga.”
The city says the investment is part of Mississauga’s Economic Development Strategy to expand its economic development agenda, remain competitive, measure success and attract innovative businesses to the city.
Mississauga’s life sciences sector is the second largest in Canada by number of employees.
“GSK has been part of the Mississauga life sciences sector for over 25 years and we are proud to contribute to the healthy and vibrant life sciences sector in this city, and this country,” said YS Hong, President of Canada Pharmaceuticals of GSK Canada.
GSK has three global businesses that research, develop and manufacture pharmaceutical medicines, vaccines and consumer healthcare products.
Cover photo courtesy of @idris.yyz