PharmaCord Plans Major Southern Indiana Expansion
1SI says the River Ridge Commerce Center is only 15 percent occupied.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA Louisville-based healthcare solutions provider is making a big expansion into Indiana. PharmaCord, which specializes in customized patient support services for the life sciences industry, has announced plans to invest more than $52 million to establish operations in the River Ridge Commerce Center in Jeffersonville and create up to 850 jobs by the end of 2023.
The Indiana Economic Development Corp. says the company will initially lease two floors of the America’s Place Gallery Building. Plans call for eventually building and equipping a new, 80,000-square-foot facility which will serve as a state-of-the-art call and operations center.
"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," Nitin Sahney, founder and chief executive officer of PharmaCord, said in a 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."
PharmaCord serves as a connector between pharmaceutical companies and manufacturers, doctors and payers. The company provides services to ensure patients receive specialty medications prescribed to them. The company was founded in 2017 with fewer than 20 employees and expects to reach 200 by the end of the year.
One Southern Indiana says the wages for the new jobs are expected to be 10 percent above the Clark County average. PharmaCord expects to be fully moved into the initial expansion site by August. The company did not provide a timeline for the new building’s completion. A spokesperson for PharmaCord tells Inside INdiana Business the company’s two existing Louisville locations will remain in place.
1si President Wendy Dant Chesser says the announcement is the result of a regional collaboration.
"By communicating and discussing this with our comrades across the river, we’ve regionally made the case for them to stay in the region and once they looked at the numbers, they chose the River Ridge site," said Chesser. "It wouldn’t have happened if we had not been open to that communication and collaboration and because we have both trust and respect with our partners in the region, we’ve been able to secure this win."
The IEDC plans to offer PharmaCord a total of up to nearly $9 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs.
Chesser says the project adds to the variety of businesses in the region.