Detroit-based Caraco Pharmaceutical to create 600 new jobs over next 5 years

Caraco Pharmaceutical Laboratories, a Detroit-based producer of generic pills, will expand its facility and add 600 employees over the next five years.

Excerpts:

Caraco has 455 employees, including 85 at a packaging plant in Farmington Hills. The 600 new manufacturing and research jobs will be primarily at a 140,000-square-foot expansion of the main Detroit complex.

In addition to the 600 new Caraco jobs, a University of Michigan estimate provided to the state said that economic activity generated by the expansion will create another 1,050 indirect jobs. The expansion will generate $675 million in income for Michigan workers over the life of the tax credit, according to the U-M estimate.

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