Fort Worth, Texas Grants Secure Galderma Headquarters Expansion

Swiss dermatology company Galderma has announced an expansion of its to support research, development and training operations at its headquarters in Fort Worth, TX.

Cetaphil

Cetaphil (photo – earthlydelights/flickr)

Supported by a $2.052 million Texas Enterprise Fund (TEF) grant and Fort Worth economic development incentives, the company will invest $22 million to add a new 100,000-square-foot facility to its existing 170,000-square-foot headquarters operations.

The company expects the expansion to create 342 new jobs in Fort Worth. As part of its agreement with the City, Galderma will also retain 280 existing employees in Fort Worth. The new jobs being created are high-wage jobs with an average annual salary that will be a minimum of $110,000.

Governor Greg Abbott said in a statement that Galderma’s expansion shows the company’s commitment to serving the Fort Worth community and its workforce needs. “We are proud that Galderma has decided to continue investing in Texas and create hundreds of new jobs to support their North American operations,” said Gov. Abbott.

Galderma Laboratories, L.P. is a part of Lausanne, Switzerland-based Galderma S.A. The company, which was founded in 1981 as a joint venture between L’Oreal & Nestle, is now a wholly-owned subsidiary of Nestle. Galderma is now present in 100 countries with an extensive product portfolio, including the Cetaphil line of skin care products, to treat a range of dermatological conditions.

The company’s association with the Dallas-Fort Worth area goes back a long way to 1961, when the Owen dermatology company was founded in Dallas. Ophthalmology specialist Alcon, headquartered in Fort Worth, acquired Owen in 1972, and Nestle in turn acquired Alcon in 1977. Nestle and L’Oreal then formed a joint venture in 1981 to create Galderma.

Galderma North America President Miles Harrison said in the release that “We are thrilled to expand our Fort Worth footprint and to see our expansion supported by a $2.052 million grant from the Texas Enterprise Fund (TEF).”

Galderma will also receive economic development grants annually from the City of Fort Worth for ten years, valued at a total of around $600,000. Each of the annual grants will be equivalent to a maximum of 50 percent of the incremental real property tax revenues and personal property tax revenues generated each year by the expansion.

Apart from job creation and wage requirements, the company’s agreement with the City also requires it to hire Fort Worth certified MWBE contractors to receive at least 25 percent of the construction costs of this expansion project. Furthermore, Galderma must fill at least 25 percent of the eligible jobs with Fort Worth residents.

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