Expanded OrionRx would create 17 new jobs
LOUISVILLE, Ky. (June 28, 2013) — An expanding pharmaceutical company was preliminarily approved Thursday for economic development incentives by the Kentucky Economic Development Finance Authority (KEDFA).
OrionRx Kentucky, a provider of both pharmaceutical and clinical pharmacy consulting services to long term health care facilities, relocated its corporate headquarters to Louisville last year. Because of growing demand in the industry, OrionRx is considering an expansion and the addition of an automated pharmacy operation in alignment with its Louisville operation. Plans call for 10,000 s.f. of additional space that would be fully operational by the end of 2013.
OrionRx anticipates that within the first two years of the expansion, the company would have an estimated total investment of $2.24 million in building materials and capital equipment. The project would also create 17 new jobs with a total payroll of more than $1 million by the second quarter of 2015.
The pharmaceutical company was approved for up to $320,000 in Kentucky Business Incentive for up to 10 years. (Kentucky Business Incentives consolidates KIDA, KREDA, KJDA and KEOZ into a single, more flexible tax incentive program for new and expanding businesses. This change was made in legislation passed during the 2009 Special Session of the Kentucky General Assembly.)
“The expansion of this one growing company positively affects both our Lifelong Wellness & Aging Care and our Logistics & Distribution sectors, making it a two-for-one when it comes to the economic and quality of life benefits for our community,” said Mayor Greg Fischer.