News

Pharmaceutical company's expansion will add 74 jobs in Brevard

By Lightning Reports, Published: March 19, 2021

BREVARD — Raybow USA, the American operations of Raybow Pharmaceutical, announced today plans to invest $15.8 million in its existing Brevard headquarters.

The expansion project will sustain 26 fulltime jobs and create 74 additional positions. New positions will include research chemist, pilot-plant personnel and supervisors. Once the project’s new jobs are in place, the region will benefit from nearly $5.7 million in new direct payroll. This expansion represents a collaboration between the company, the state of North Carolina and local leadership.

Over the next five years the company plans to add 34,000 square feet to their existing site in Brevard. The additional facilities will allow the company to triple their employment and triple the number of projects they can address at a given time. The investment will coincide with a significant expansion to the company’s existing facility in Brevard, adding new technology, laboratory space and specialized equipment. At the conclusion of the expansion, Raybow USA is expected to support one of the most advanced pharmaceutical research operations in the region.

Raybow USA was established as PharmAgra Labs in 1999 by entrepreneurs, Roger Frisbee and Peter Newsome. The company has been located in Brevard since 2003. Today, the company is the North American headquarters of Raybow Pharmaceutical, a publicly-held, contract development manufacturing organization (CDMO) and chemistry services provider with 1,700 employees. The company serves many of the leading pharmaceutical names across Asia, Europe, and North America.

“These investments fit perfectly with our long-term goal of expanding our operations in Transylvania County,” Peter Newsome, Co-President of Raybow USA said.

Roger Frisbee, Co-President of Raybow USA, added: “We are excited about expanding our operations in Brevard and supporting future economic development in Transylvania County. Pete and I look forward to continuing our work, which now includes increased global capabilities and reach.”

“We are excited by the opportunity this project brings to Transylvania County," Jason Chappell, chairman of Transylvania County Board of Commissioners said. "Raybow USA offers high-wage, high-tech job opportunities to our community. We commend the continued investment and commitment to Transylvania County and look forward to growing this partnership in the years ahead. This is a major economic development announcement not only for Transylvania County, but for our region and North Carolina. The success and investment of this business is a testament to the strength and vitality of Transylvania County, and our dedication to expanding and growing our economic base. I would like to extend our warmest thanks and appreciation to Raybow’s local leadership team, along with CEO, Mr. Bin Wang and Chairwoman Ms. Hua Lirong for placing the company’s trust in Transylvania County. We look forward to being a continued partner in their endeavors in Transylvania County and wish them all the best success.”

The project was made possible by performance-based economic development grants from the One North Carolina Fund and Transylvania County Economic Development Incentive program. Using these critical tools, companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.