SC: The Ritedose Corp. to Invest $110M to Expand in Richland County
18 Sep, 2014
The Ritedose Corp., a leading pharmaceutical products manufacturer, announced it has decided to expand its operations in South Carolina and add additional capacity to the company's Richland County facility. The expansion is expected to cost up to $110-million and could add more than 80,000 square feet of space to the company's existing 120,000-square-foot manufacturing and packaging facility in a phased manner and create more than 65 jobs over five years. Execution of the expansion plan will be contingent upon regulatory approval of the products and the facilities by the U.S. Food and Drug Administration (FDA).
Company representatives were joined by Gov. Nikki Haley and state and local officials in making the announcement today at its Columbia, S.C. headquarters at 1 Technology Circle in the Carolina Research Park, where the company has operated for nearly 20 years.
The Ritedose Corp. specializes in manufacturing inhalation products, eye drops, ear drops and unit dose oral liquids, with expertise in blow-fill seal (BFS) technology. The company's existing plant has a capacity of more than one billion unit dose vials each year. Upon completion of the expansion, that figure would exceed two billion unit dose vials annually.
In addition to its manufacturing and packaging operations, The Ritedose Corp. also conducts research and development activities in Columbia aimed at product development and process improvement. The facility meets or exceeds all FDA standards.
The Ritedose Corp. will be working with readySC to screen and hire skilled positions for the facility. Those interested in existing employment opportunities are encouraged to visit the company's career page to learn more.
"Through this planned expansion, The Ritedose Corp. will be able to better respond to the capacity and capability needs of our existing and new clients serving both U.S. and overseas markets over the next five years. Since 1995, the State of South Carolina's commitment to our success has allowed our company to continue to expand, and we appreciate the support of Gov. Haley and the state and local officials who were instrumental in today's announcement." -Dr. Umesh Dalvi, president and CEO of The Ritedose Corp.
"After establishing operations in our state nearly two decades ago, we are thrilled that The Ritedose Corporation continues to grow and succeed here. This major expansion once again demonstrates that South Carolina is a place where pharmaceutical companies want to do business, and we applaud their investment and the new jobs they are bringing to Richland County. " -Gov. Nikki Haley
"Today's announcement reflects the further diversification of our state's economy, with the life science sector increasing its presence in South Carolina. The Department of Commerce seeks to continue growing our existing industry while being the state that is 'Just right' for manufacturing - whether it be tires, planes or pharmaceuticals." -Secretary of Commerce Bobby Hitt
"Ritedose has been an excellent corporate citizen in Richland County for twenty years, and this significant expansion represents a continued commitment to our community. The company will be creating more tech jobs for our citizens, which is the number one goal of our economic development efforts."- Norman Jackson, chairman of Richland County Council
"An investment like this from a groundbreaking and industry leading firm like Ritedose further demonstrates that, whether we're talking about medical science, energy or information technology, Columbia is taking the knowledge economy by storm and we're just getting started." - City of Columbia Mayor Steve Benjamin
FIVE FAST FACTS
The Ritedose Corp. intends to expand its Richland County manufacturing and packaging facility.
The up to $110 million investment is expected to create more than 65 new jobs over five years. Execution of the expansion plan will be contingent upon FDA approval of the products and facilities.
The Ritedose Corp. is a leading pharmaceutical manufacturer producing inhalation products, eye drops, ear drops and unit dose oral liquids in the U.S.
The expansion could add in phases more than 80,000 square feet to the company's existing 120,000-square-foot facility at 1 Technology Circle in the Carolina Research Park in Columbia.
The company will work with readySC to screen and hire skilled positions. Those interested in existing employment opportunities are encouraged to visit the company's career page to learn more.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. Commerce has recruited world-class companies to South Carolina such as Boeing, Bridgeston, Continental, Monster.com, ZF Group, BMW and Google Inc. and also supports small and existing business, rural development initiatives and community development. Commerce partners with the S.C Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. South Carolina ranked first in the nation for attracting jobs through foreign investment, according to IBM-Plant Locatioin International reports in both 2012 and 2013. The state won the Gold Shovel Award and the Project of Year Award from Area Development magazine in 2012. For more information, visit www.SCcommerce.com.