Brevard, NC- Raybow USA, the American operations of Raybow Pharmaceutical, announced today plans to invest $15.8 million in its existing Brevard headquarters. The expansion project will sustain 26 full time jobs and create 74 additional positions. New positions will include research chemist, pilot-plant personnel and supervisors. Once the project’s new jobs are in place, the region will benefit from nearly $5.7 million in new direct payroll. This expansion represents a collaboration between the company, State of North Carolina and local leadership.
Over the next five years the company plans to add 34,000 square feet to their existing site in Brevard. The additional facilities will allow the company to triple their employment and triple the number of projects they can address at a given time. The investment will coincide with a significant expansion and upgrades to the company’s existing facility in Brevard, adding new technology, laboratory space and specialized equipment. At the conclusion of the expansion, Raybow USA is expected to support one of the most advanced pharmaceutical research operations in the region.
Raybow USA was established as PharmAgra Labs in 1999 by entrepreneurs, Roger Frisbee and Peter Newsome. The company has been located in Brevard, NC since 2003. Today, the company is the North American headquarters of Raybow Pharmaceutical, a publicly-held, contract development manufacturing organization (CDMO) and chemistry services provider with 1,700 employees. The company serves many of the leading pharmaceutical names across Asia, Europe, and North America.
Peter Newsome, Co-President of Raybow USA said, “These investments fit perfectly with our long-term goal of expanding our operations in Transylvania County.” Roger Frisbee, Co-President of Raybow USA added, “We are excited about expanding our operations in Brevard and supporting future economic development in Transylvania County. Pete and I look forward to continuing our work, which now includes increased global capabilities and reach.”
Peter Halkjaer-Knudsen, Executive Vice President of Raybow Pharmaceuticals said, “Raybow Pharmaceuticals is proud to announce that, after only one year, we are ready to further increase our commitment in North Carolina. We are grateful for the warm welcome we have received and the continued support we experienced during the feasibility studies for this expansion. Transylvania County has proven to be the right choice for our North American headquarters and R&D operations and we very much look forward to the continued journey with the people of North Carolina.”
Jason Chappell, Chairman of Transylvania County Board of Commissioners said, “We are excited by the opportunity this project brings to Transylvania County. Raybow USA offers high-wage, high-tech job opportunities to our community. We commend the continued investment and commitment to Transylvania County and look forward to growing this partnership in the years ahead. This is a major economic development announcement not only for Transylvania County, but for our region and North Carolina. The success and investment of this business is a testament to the strength and vitality of Transylvania County, and our dedication to expanding and growing our economic base. I would like to extend our warmest thanks and appreciation to Raybow’s local leadership team, CEO, Mr. Bin Wang and Chairwoman Ms. Hua Lirong for placing the company’s trust in Transylvania County. We look forward to being a continued partner in their endeavors in Transylvania County and wish them all the best success.”
Jimmy Harris, Mayor of the City of Brevard commented, “Brevard is a community of excellence. The businesses which call our community home are truly exceptional. Raybow USA has and will continue to be successful because they recognize to attract the best and brightest workforce, location matters, employees want to live and work in our special community. Our small, but vibrant community has all the benefits of traditional biotechnology hubs but with the authentic character and appeal of being one of the most recognized and celebrated small towns in America.”
Amber Webb, Chairwoman of the Transylvania Economic Alliance commented, “Investments in high-tech manufacturing companies is vital to sustaining economic growth in our community. Transylvania County is well positioned to grow the life sciences and biotechnology cluster due to our established companies, attractiveness to global talent and our ability to grow our own workforce through collaborations with Transylvania County Public Schools, Blue Ridge Community College and our local 4-year institution, Brevard College. The world continues to become more connected, even during these extraordinary times. As virtual workplaces and technology become more commonplace, companies and entrepreneurs will continue to have exceptional opportunities here in Transylvania County. Looking to the future we are truly excited about this expansion and the synergies and advancement which will continue to emerge based on this project.”
The project was made possible by performance-based economic development grants from the One North Carolina Fund and Transylvania County Economic Development Incentive program. Using these critical tools, companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.
The Transylvania Economic Alliance is a 501(c)(3) organization that works to lead responsible economic development through engaging the private and public sectors to develop community assets that are needed to maximize opportunities for investment and quality job creation. For more information about the Alliance please visit www.transylvaniaalliance.com or contact Executive Director, Josh Hallingse at 828-393-4130. For NC Commerce contact, Communications Director David Rhoades at 919-814-4611. To learn more about Raybow Pharmaceutical please visit www.raybow.com.