Pisgah Laboratories, Inc., a pharmaceutical manufacturer, will add 57 new jobs in Transylvania County, Governor Roy Cooper announced today. The company will invest $55 million to expand its manufacturing product line.
"North Carolina’s life science industry is expanding all over our state including rural areas like Transylvania County with the growth of Pisgah Laboratories," said Governor Cooper. "When North Carolina companies expand and reinvest in our state, it validates our ranking as the best state to do business.”
With roots in x-ray film dye and agrochemicals, Pisgah Labs was founded in North Carolina in 1981. The company received its first FDA approval to manufacture active pharmaceutical ingredients in 2002 before exclusively developing pharmaceuticals in 2005. Pisgah holds 31 patents and manufactures the active ingredients for pain medicines and the treatment of disorders and diseases, such as Alzheimer’s and fibromyalgia. The latest expansion will add sterile injectables and liquid filling operations with a new pilot manufacturing facility, quality control laboratory, warehousing, and microbiological laboratories. Pisgah’s expansion also includes a commitment to develop a life sciences training collaborative with local and regional colleges, universities, and Transylvania County manufacturers.
“We are excited to begin this expansion of Pisgah Labs,” said Dani Bailey, Site Manager of Pisgah Labs, Inc. “We are grateful for the support from North Carolina and Transylvania County. Our parent company, Ipca Laboratories Limited, is making a large investment in Pisgah’s future. Carving a space in the highly competitive pharmaceutical market is not an easy task, but we welcome the challenge and intend to see many years of company growth, job creation and education opportunities for Pisgah Labs and western North Carolina.”
“Pisgah Labs shares our economic development strategy which prioritizes creative partnerships with an emphasis on workforce training,” said N.C. Commerce Secretary Machelle Baker Sanders. “As a leader in pharmaceutical manufacturing and with our robust network of research institutions, North Carolina has the right formula to support thriving life sciences companies.”
The new positions include analysts, technicians, supervisors, and managers, which have an average annual salary of $60,088. Transylvania County’s overall average annual wage is $39,028. The new jobs have the potential to create an annual payroll impact of more than $3.4 million for the region.
A performance-based grant of $50,000 from the One North Carolina Fund will help with Pisgah Labs’ expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.
“This is outstanding news for Transylvania County and the entire state,” said N.C. Senator Chuck Edwards. “Pisgah Labs is integral to our burgeoning life science cluster and will be a great partner for helping our region grow a strong talent pipeline for many years to come.”
“This increased investment and good paying jobs are welcomed additions for our community and we’re ready to support the company in this next phase of growth. We want to make sure future generations have great career opportunities right here at home in western North Carolina,” said N.C. Representative Jake Johnson.
In addition to the N.C. Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Biotechnology Center, North Carolina Community College System, Blue Ridge Community College, Transylvania County and the Transylvania Economic Alliance.
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July 26, 2022 at 01:03AM
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Pharmaceutical Company to Invest $55 Million in Transylvania County Expansion - Governor Roy Cooper
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