TOWN OF TONAWANDA, N.Y. (WIVB) — A manufacturing plant in the Town of Tonawanda is planning to triple the size of its facility in the Riverview Solar Technology Park.
Pine Pharmaceuticals moved to a 25,000 square foot building on Riverwalk Parkway in May 2018. Over the past two years, Gov. Andrew Cuomo’s office says Pine Pharmaceuticals doubled its employment.
In order to expand further, the company plans to invest $8.6 million into a 50,000 square foot addition to the existing facility. This will allow Pine Pharmaceuticals to add 40 more permanent full-time employees, while retaining the 85 current full-time employees.
New York’s Excelsior Jobs Program will provide $650,000 in refundable tax credits.
“If COVID-19 has taught us anything, it’s that we need to stop relying on foreign distributors and increase production of critical medical supplies and resources, including pharmaceuticals, right here in the United States,” Cuomo said. “As we work to build back better, our strategic incentives will allow Pine Pharmaceuticals to once again expand its operations in Western New York, where a thriving advanced manufacturing economy has been creating quality jobs and uplifting communities for years now as a result of New York’s ongoing investments in the region.”
According to Cuomo’s office, Pine Pharmaceuticals provides pharmaceutical compounding, including specialized sterile formulations used by hospitals, ambulatory surgery centers and medical clinics, among others facilities.
“When our country was caught off-guard last year, New York said never again,” Lt. Gov. Kathy Hochul said. “That is why we are investing in the manufacturing of life-saving materials, such as pharmaceuticals, right here in western New York. These are extraordinary times, but we cannot stop investing in economic development – we continue to build back better, smarter and stronger for a post-pandemic future.”
The new single-story expansion will be used for warehousing, quality and manufacturing space. Construction is expected to start in March and be finished by the end of the year.