NEW ALBANY, Ohio — Bayer plans to invest $2.2 billion in a new pharmaceutical manufacturing site in the New Albany International Business Park, the company announced Oct. 2. Bayer expects to create around 600 permanent jobs there, plus roughly 1,500 construction jobs while the campus is built.
The modular campus will combine drug substance and drug product manufacturing for Bayer's oncology, cardiovascular and renal care portfolio. The first module, for drug substance, is expected to be operational in 2031, and a second module, for drug product, is planned for 2034. On Oct. 26, the Ohio Tax Credit Authority approved a 2.157 percent, 30-year Job Creation Tax Credit for the project, which the state says is expected to create 606 full-time-equivalent positions and $69,164,950 in new annual payroll by Dec. 31, 2034.
ON THE RADAR
Company: Bayer
Location: New Albany International Business Park, New Albany, Ohio
Investment: $2.2 billion
Jobs: Around 600 new permanent jobs (company); 606 full-time-equivalent positions by 2034 under the state tax credit; about 1,500 construction jobs
Type: New pharmaceutical manufacturing site
Announced: Oct. 2, 2026 (state tax credit approved Oct. 26, 2026)