Terms of the pact call for La Jolla-based Idec to receive apackage of tax breaks on equipment and business licenses, as wellas waivers on building and document-processing fees in exchange forthe development and its 2,400 employees. When the new facility isbuilt, Idec would become Oceanside's largest private employer.
The city also agreed to fast-track the permit process. It willalso build a "brine line" to deliver up to 1.4 million gallons ofwater a day to the new Ocean Ranch Corporate Centre, underdevelopment by Stirling Development of Irvine.
Idec has been negotiating with the city and Stirling Developmentsince lastOctober and is in escrow with the developer. The companyproduces theanti-lymphoma drug Rituxan, which generated nearly $100million in salesduring the second quarter of this year.
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