Caraco produces roughly 3.5 billion tablets annually, and reported $350 million in sales in the last fiscal year. The generic drug maker, part of a $58 billion-dollar-a-year industry, produces for retailers, wholesalers, and distributors.

A $22 million-dollar expansion will keep work for Caraco in metro Detroit, with the company planning to add 600 jobs over the next four years. The situation with Michigan auto makers Ford and GM is well-known, and to ensure job addition rather than more subtraction, the state put together a $12.5 million-dollar tax break package to keep Caraco in town.

“Caraco is very important because this is the kind of company that is growing,” said Kenyetta Harriston Bridges, a business retention specialist for the Detroit Economic Growth Corporation. “This is the kind of company that will allow us to diversify our economy to make up for the losses we’ve encountered as a result of the manufacturing industry.”

The company opened in 1991 and, thanks to a relationship with India’s fifth-largest drug manufacturer, Sun Pharmaceuticals, Caraco has seen major growth over the past five years. Caraco currently employs 600 (with 150 jobs added in the past year).

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