Fishers-based life sciences firm INCOG is planning a major expansion that could more than double its local workforce over the next several years.

INCOG CEO Cory Lewis told the Fishers City Council Monday night that the company expects to grow from its current workforce of about 400 employees to roughly 1,000 workers by 2030.

The City Council unanimously approved an economic development package to support the expansion. Fishers Economic Development Director Megan Baumgartner said INCOG has fully complied with the terms of its first two economic development agreements with the city and is now seeking approval for a third phase.

The new agreement includes a 10-year real property tax abatement and city assistance with improvements to an adjacent pond area, which will be redeveloped to provide additional parking for the company’s growing workforce.

Baumgartner described INCOG as an “incredible” partner with the city.

Mayor Scott Fadness said the company has played a key role in promoting Fishers as a destination for life sciences firms. He noted that INCOG helped attract Italian-based company Stevanato Group to locate in Fishers.

INCOG is a contract development and manufacturing organization that specializes in the production and packaging of sterile injectable biopharmaceuticals.