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IDEC Project Makes Magazine's Top Deals List

OCEANSIDE, CA-Site Selection magazine's top 10 deals for 2000 averaged 4,215 jobs created and $1.15 billion in capital investment--far above 1999's average of 3,334 jobs and capital investment of $305.5 million.

By Randyl J. Drummer | Updated on May 02, 2001

OCEANSIDE, CA-Ocean Ranch Corporate Centre has made Site Selection magazine’s top 10 list of development deals for 2000 thanks to IDEC Pharmaceuticals. IDEC plans to build a 1.37-million-sf manufacturing and research and development facility on 60-acres in the business park, and holds a two-year option on an additional 30 acres at the site.

Incentives played a key role in IDEC’s decision to locate the $1.25 billion, 2,400-employee pharmaceutical plant in Oceanside. Those incentives include $3.43 million in city building fee exemptions over 10 years, $5.3 million in municipal personal property tax rebates over 10 years, and a state Employment Training Panel subsidy of $450,000.

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