Global business expanding in Riverview; expected to create 31 well-paying jobs – The News Herald
A global business that was a mainstay in Riverview under a different name is expanding again.
The expansion of Piramal Pharma Solutions results in the investment of millions of dollars and the creation of several well-paying jobs.
On Tuesday, Governor Gretchen Whitmer and the Michigan Economic Development Corporation announced that the contract development and manufacturing organization plans to expand into Riverview, with support from the Michigan Strategic Fund.
State officials said it was a sign of continued economic recovery and growth in Michigan’s life sciences and health industry.
The project is expected to generate a total private investment of $ 35 million and create 31 well-paying jobs, which will result in a performance-based grant of $ 200,000 Jobs Ready Michigan. Michigan was chosen for the project over another company site in Europe.
“Piramal Pharma Solutions’ decision to expand into Southeast Michigan will create well-paying jobs for our talented workforce,” said Whitmer. “Their expansion underscores the strength of Michigan’s business climate and its continued leadership in manufacturing across all industry sectors. This is great news for workers and their families as we continue our economic recovery and get Michigan back to work. With the help of companies like PPS, we can put Michigan first and rebuild our state’s economy stronger than ever. “
PPS partners with and supports pharmaceutical companies in their search for Food and Drug Administration approval for new drug applications. The Riverview site, originally established as Ash Stevens in 1962, specializes in the development of high potency active pharmaceutical ingredients, with a focus on oncology applications. It is a key site in the company’s integrated offering, which combines services across a global network of sites to deliver speed and simplicity to companies innovating new drugs for patients.
Ash Stevens was acquired by Piramal Pharma Solutions in 2016, resulting in a significant increase in revenue and number of employees.
“The Riverview, Michigan site is an extremely important part of our global network as it produces the active ingredients used in a number of developmental and commercial pharmaceutical treatments,” said Peter DeYoung, CEO of Piramal Pharma Solutions . “This expansion allows us to better serve our current customers and meet additional market demand for drug substances, including HPAPIs, thereby strengthening our efforts to reduce the burden of disease on patients around the world. “
In response to the growing need for high power APIs and the corresponding growth at the Riverview site, PPS plans to establish a new facility on an adjacent property that will house manufacturing, warehousing and laboratory operations.
With the help of Jobs Ready Michigan’s performance-based grant, PPS is expected to offer above-market salaries to attract and retain the talent it needs.
Quentin Messer, Jr., CEO of the Michigan Economic Development Corporation and chairman and chairman of the Michigan Strategic Fund, said the state is grateful for PPS’s continued vote of confidence in Michigan and its workforce.
“The message is clear: Michigan’s economy is recovering and we continue to work on building a championship economy here in the state,” Messer said. “We appreciate the efforts of our local Wayne County partners to support this project and will work with PPS over the months and years to come as it continues to grow and create jobs for Michigan residents.
The Jobs Ready Michigan program is designed to provide grants for business expansion and localization projects that lead to job creation and investment in Michigan that have a demonstrated need for training, particularly to research new high-tech, high-demand, high-wage employment opportunities. .
The project is seen as further strengthening Michigan’s life sciences and healthcare industry and is expected to create highly skilled and well-paying jobs for area residents, including positions as chemists, specialists in the quality assurance and research and development scientists.
“The growth of the Piramal Pharma Solutions site in Riverview is representative of Wayne County’s versatility in expanding industries,” said Warren Evans, Wayne County Manager. “We look forward to supporting their expansion, which will bring 31 new jobs and a capital investment of up to $ 35 million to the Town of Riverview and Wayne County. “
Riverview Mayor Andrew Swift called Piramal Pharma Solutions the city’s “hidden gem”, adding that the multinational has chosen Riverview as one of only two locations in the United States.
“They are so confident in the relationship we have with them, they not only developed once, but now want to develop again,” said Swift. “We are accused all the time of not being able to attract big companies. Well that’s another victory for us and Piramal.
Swift said it’s also worth noting that the creation of 31 well-paying jobs is on top of many more jobs created the last time the company expanded to Riverview.