Ritedose Corp. investing $81M towards warehouse and job expansion
COLUMBIA, S.C. (WIS) - A locally owned and operated pharmaceutical company announced plans to expand operations following approval from the county council on Tuesday.
The Ritedose Corporation in northeast Columbia formally announced plans to invest $81 million towards infrastructure expansion, creating 94 new jobs in the process.
“The products that we make are very niche… there’s only three or four manufacturers in the United States that even offer our technology,” said Jody Chastain, owner, and operator of The Ritedose Corp.
Founded in 1995, The Ritedose Corp. sits on a 33-acre property in Columbia’s Carolina Research Park. The 300,000-square-foot facility is one of the largest producers of generic inhalation drugs in the country.
“Any time you get this type of investment and that type of job commitment, it’s not only good for the county but it’s good for the state in the long run,” said Bill Malinowski, County Councilman for District 1.
Malinowski was one of the council members who unanimously approved a fee in lieu of taxes for The Ritedose Corp. on Tuesday.
“This is the type of economic development that we need to see continued in Richland County,” concluded Malinowski over the phone.
Phase one of the company’s investment includes the repurposing of facility space. Chastain says phase one will cost $21 million and generate 50 of the 94 jobs by early 2024.
“This expansion allows us to continue to fill the need of drug channels out there in the patient population. But in addition, it allows us a runway for development of new novel therapies for both respiratory, as well as eye care,” concluded Chastain.
In the remaining phases, Chastain says the company is considering a 200,000-square-foot expansion to their pre-existing warehouse.
The company currently employs 504 people. If interested in joining The Ritedose Corp., they’re asking you to visit the company’s career page.
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