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2010-11-30 - Major expansion of PEI bioscience company will create more jobs
BioVectra is one of the leading bioscience companies on PEI and is the largest Canadian company of its kind. Although they have been under this name for over ten years, they have 40 years of experience serving the pharmaceutical and biopharmaceutical industry.
The company operates out of two primary facilities in the Charlottetown area. Now they are expanding the Airport Business Park location, which will increase their overall staff numbers from about 130 to over 160. Construction has begun and is expected to be complete by the fall of 2011. By January 2012 they expect to be in full production.
“This expansion will generate revenue of $7 to $10 million per year,” says Ron Keefe, CEO. “The contract that prompted this expansion is with a company that needs a specific pharmaceutical ingredient to sell in their market place. The product is very familiar to us because we have been doing this kind of work for about five years.
“I believe the growth in Bioscience on PEI is just beginning. We are one of the few larger companies that are providing the majority of the employment. But there are also many smaller companies in the precommercial phase which are starting to move into commercialization and will need more staff as they grow.”
The Employment Journey
By Gloria Welton
Read More: TheEmploymentJourney.pdf