JEFFERSONVILLE — A Louisville-based pharmaceutical company has announced plans to expand its operations in Jeffersonville — bringing with it 850 new jobs by the end of 2023.
PharmaCord, a privately-held health solutions provider which offers customized patient support services for the life sciences industry, plans to invest more than $52 million into operations at River Ridge, according to a news release. This will initially mean leasing two floors of the America Place Gallery Building on Logistics Avenue, moving by August.
Company leaders later plan to construct a new 80,000-square-foot facility at Trey Street, which will serve as a state-of-the-art call and operations center, the release states. This will allow PharmaCord to enhance services while continuing to expand its base of pharmaceutical companies.
“We’re very excited to see this locally grown company — led by a veteran management team — choose River Ridge as the site for its planned expansion,” Jerry Acy, executive director of River Ridge Commerce Center, stated in the release. “This is a great example of how Louisville and Southern Indiana leaders are working together to recruit and retain growing employers. The is a big win for the entire region.”
Acy later said in an interview that he is excited to add to the pharmaceutical sector in the business park and the region — which typically creates more competitive career opportunities.
“That’s been one of our targets over the years, because of the higher profile, typically they’re higher-paying paying jobs, a lot of white collar professional jobs,” he said. “So we’re excited about the investment coming in, a new office-type building that will be constructed here that they will occupy.”
PharmaCord currently has around 150 employees, but plans to immediately begin hiring customer service representatives, benefit specialists, case managers and specialty nurses.
Jeffersonville Mayor Mike Moore said that adding so many new jobs with what he calls “a strong household income” — an average pay of more than $21 per hour — is crucial to Jeffersonville’s current and future growth, development and quality of life.
“This is incredible for Jeffersonville,” he said in an interview Monday. “That’s what we have switched our attention to. Let the other cities and towns compete for the $10 and $12 an hour jobs; we’re trying to create careers here.”
He said the infrastructure improvements and development plans of recent years — namely the residential and commercial growth along Ind. 62 and 10th Street — makes way for the growth of the commerce center, and the employees it brings.
“There’s an enormous amount of growth of new residential housing,” he said. “I want them to live in Jeff, I want them to work in Jeff, I want them to spend their money in Jeff. This is how we build new roads, this is how we build new parks, this is how we make our community safer.
“[Companies] can look all over the country, they can look all over the world and they did and they still landed in Jeffersonville. I think it’s because of everything we’ve been offering — we’re preaching a good quality of life, a strong education, a family atmosphere, a pro-business atmosphere.”
Nitin Sahney, founder and CEO of PharmaCord, said the decision to start operations at River Ridge provided the company with a stellar facility, while also expansing the company’s reach in the Louisville Metro area.
“It was important to us to find an expansion site that would not only afford us the space to grow and fulfill our potential as a company, but also to expand our presence in the Louisville metro area,” Sahney stated in the news release. “River Ridge Commerce Center and America Place provided us with a world-class facility, while still being convenient and close to our existing offices in Louisville.
“I believe this new location will give us the space and ability to support future pharmaceutical client programs while creating more jobs in health care for the Metro area. We are very excited about this decision and its implications for the continued growth of PharmaCord.”
Pending approval, PharmaCord could receive conditional tax credits of up to $7.85 million from the Indiana Economic Development Corporation and up to $1.2 million from the Hoosier Business investment tax credit program,based on its job creation and capital investment plans in the state.
“It’s an exciting day for Indiana and the city of Jeffersonville as we welcome PharmaCord to the Hoosier state,” Gov. Eric J. Holcomb stated in the news release. “Indiana has quickly established itself as a global leader in life sciences, gaining national recognition and attracting new businesses from around the world. I’m confident that Indiana’s pro-business environment and talented workforce will allow the company to grow and thrive here as they work to deliver critical health care solutions.”