Governor Hochul Announces Completion of $8.6 Million Expansion of Pharmaceutical Plant in Tonawanda

September 19, 2022

Economic Development Incentives Allow Pine Pharmaceuticals To Double Full-Time Employment 

Demonstrates New York's Commitment To Fostering the Growth of Innovative Businesses and Supporting State's Future in Tech Manufacturing 

View Photos of the Expanded Facility Here

Governor Kathy Hochul today announced the completion of the $8.6 million expansion of Pine Pharmaceuticals LLC's manufacturing plant in the Town of Tonawanda. The drug outsourcing company tripled the size of its facility at Riverview Solar Technology Park following the company's tremendous growth in the past three years. The expansion has allowed Pine to add almost 90 new, full-time permanent employees, doubling its initial projections and overall full-time permanent workforce. Empire State Development has agreed to support this project with up to $650,000 in performance-based Excelsior Jobs Program tax credits.

"Manufacturing is part of New York's legacy, and our state is home to some of the best engineers, developers, and scientists in the world," Governor Hochul said. "Pine Pharmaceuticals investment in Western New York will help fill a critical need for U.S. manufactured drugs, retain and create much-needed jobs and continue to boost our state's economic growth."

Pine Pharmaceuticals is a family-owned business that has experienced exponential growth and success in Western New York. The company provides pharmaceutical compounding, including specialized sterile formulations serving ophthalmologists, retinal specialists, hospitals, ambulatory surgery centers, medical practices and clinics. The company uses cutting-edge technology and industry-leading quality assurance practices and addresses drug shortages by working with hospitals, clinics, medical practices and physician offices to provide sterile compounded pharmaceuticals.

Pine Pharmaceuticals invested $8.6 million for the 50,000-square-foot addition to the existing state-of-the-art facility. The firm also benefits from low-cost power awards from the New York Power Authority: a 400-kilowatt (kW) Niagara hydropower allocation and a 136-kW ReCharge NY power allocation as part of its commitment to create and retain jobs and invest capital. ReCharge NY, launched by New York State 2011, offers up to seven-year power contracts. Half of the power — 455 megawatts — is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the greenest, cleanest and lowest-cost electricity in the state. The remaining 455 megawatts is lower-cost power bought by NYPA on the wholesale market.

Empire State Development President, CEO and Commissioner Hope Knight said, "The health care industry is a growing sector in the Western New York economy, and with support from Governor Hochul, businesses like Pine Pharmaceuticals are creating more high-quality jobs for local workers. The company's move to triple the size of its facility, while adding 40 full-time jobs, reminds us that our recovery from Covid-19 is well underway."

Read the full press release here.