BioVectra is investing and creating new jobs in Windsor to support its international growth.
BioVectra, headquartered in Charlottetown, is a contract manufacturing organization which produces ingredients for the global pharmaceutical industry.
"This facility acquisition for BioVectra in Nova Scotia allows us to continue to deepen our supply position, and strengthens our ability to partner with global pharmaceutical developers," said Heather Delage, vice-president, Business Development.
"Having additional manufacturing capacity to produce specialized therapeutics allows us more flexibility, and an ability to capture added business volume with existing clients, while also broadening our skills toward attracting new projects.
Nova Scotia Business Inc. signed a seven-year payroll rebate agreement with BioVectra to encourage the company to expand to Windsor.
If BioVectra creates 80 new jobs over the next seven years, it would add more than $19 million in salaries to Nova Scotia's economy, and employees would pay provincial income tax of about $2 million. If the company creates these jobs, it can earn up to $1,606,550 in payroll rebates through NSBI's Strategic Investment Fund.
BioVectra will create a range of new highly skilled jobs in the areas of research, chemistry, biology, and pharmaceuticals. The company has purchased a facility in Windsor which it will upgrade for the operation.
"BioVectra is a great addition to Nova Scotia's life sciences sector," said Alexandra McCann, NSBI's director of science and technology. "This is an innovative company bringing new skills to our province, creating good jobs, and exporting products worldwide."
To learn more about BioVectra visit www.biovectra.com