November 5, 2020: Cepheid awarded $20 Million California Competes Tax Credit to support capital equipment investments and job creation plans at three locations in the State
Contact: Sathish Kumar
Sr. Director, Consumables Operations
904 Caribbean Drive
Sunnyvale, CA 97089
Cepheid is a molecular diagnostics company that develops, manufactures and markets integrated testing systems for the clinical, and non-clinical, market. Cepheid is planning to expand global manufacturing capacity of its rapid diagnostic test kits, which are currently authorized for emergency use by the Food and Drug Administration for its automated molecular test for Covid.
Cepheid is considering expanding its Lodi facility or opening manufacturing facilities in either China and/or India to support the global production of its devices. Cepheid stated that both China and India have offered incentives, site selection, and permit procurement assistance. When including the incentives with lower labor costs, Cepheid conservatively estimates cost savings of $39 million from 2020 to 2024 if it expands in China and/or India instead of California. Cepheid indicated in its application that the credit will offset the potential savings of expanding internationally and will be a key factor in determining whether expanded production of its rapid diagnostic test kits occurs in California. We are proud to have assisted with this application.
Leave a ReplyWant to join the discussion?
Feel free to contribute!