Mar 3, 2015

Commitment to Cody Labs expansion could come soon

A Cody pharmaceutical manufacturer is expected to soon decide whether to move forward with plans to dramatically expand its facilities and workforce.

Officials with Cody Labs — owned by Philadelphia-based Lannett Company — have proposed investing upwards of $100 million and adding more than 100 new jobs in the coming years by building new production facilities off of Road 2AB, on Cody's northern edge.

“Sometime in the next month or so, Lannett will have a board meeting where hopefully everything goes well and they approve the entire project,” Commissioner Loren Grosskopf said this month. He sits on the board of the economic development group Forward Cody, a major proponent of the project.

A new Cody Labs warehouse — aided by a $2.53 million state grant to be repaid to Forward Cody — is already nearing completion at the 2AB site.

Grosskopf said the warehouse offers around 10 times the space of Cody Labs' existing facility on the city's west strip (which will continue to be used). However, the warehouse is just “Phase I” and is small compared to the plans Cody Labs and Lannett are considering for “Phase II.” The second phase — which could be followed by a third phase over the coming decade — would include a 108.5-foot high production building for creating active pharmaceutical ingredients, among some 116,500 square feet of new indoor space.

Cody Labs has said it could invest $102 million over the next four years. Wyoming Legislators put $25 million into a state loan program last year, specifically with the idea of helping along this project.

The company confirmed to Gov. Matt Mead last June that it was interested in the state funds — and in recent months it began the city of Cody’s planning and zoning process for Phase II — but it has not yet officially committed to the full expansion.

“Hopefully at the next (Lannett) board meeting, they’ll say, ‘Go,’” Grosskopf said


Post a Comment

Copyright © Cody News Company | Powered by Blogger

Design by Anders Noren | Blogger Theme by