A Boca Raton-based biotech firm has decided to enlarge its staff and product line, retaining 57 jobs, creating 160 more and investing $28 million in the region as part of its expansion.

KRS Global Biotechnology’s plans to diversify its facility on Park of Commerce Boulevard in Boca Raton’s north end drew the attention of local, county, state and business officials. So much attention, in fact, that Gov. Rick Scott and Lt. Gov. Carlos Lopez-Cantera took time to visit the company and make the announcement.

“Manufacturers like KRS Global Biotechnology are key to diversifying our economy and I am proud to announce today that they are creating 160 new jobs,” Gov. Scott said, while at the plant on Dec. 16. “The manufacturing industry is vital to Florida’s economy and that’s why we are working to cut taxes on this industry this year.”

Boca Raton Mayor Susan Haynie added her voice to the hurrahs. “I am excited that KRS Global Biotechnology has decided to stay and significantly expand its international headquarters in Boca Raton,” said Mayor Haynie. “I am proud of the [firm’s] success … and its role in the medical-biotech cluster that continues to develop in Boca Raton. I believe the company’s creation of 160 new biotech jobs is a big win for the community.”

Founded in 2001, KRS repackages manufactured drugs and provides sterile and non-sterile compounding services to patients, surgery centers, ophthalmology clinics, hospitals, universities and veterinarians nationwide. The company is also expanding into medical device manufacturing and plans to manufacture its own generic sterile injectables.

“KRS is honored to have the support of Boca Raton, Palm Beach County and Gov. Scott as we expand,” said Riccardo Roscetti, the firm’s president and CEO. “Gov. Scott’s commitment to the life sciences and pharmaceutical industries in Florida is well documented and one of the deciding factors for us to stay and grow here in Florida.”

Gov. Scott said the state is a premier location for the life science cluster, world-renowned biomedical research institutes and more than 1,100 biotech, pharmaceutical and medical device companies.

The expansion of KRS was made possible through partnerships involving Enterprise Florida, the Florida Department of Economic Opportunity, the Business Development Board of Palm Beach County, Palm Beach County and the city of Boca Raton.

“KRS’ decision to expand in Palm Beach County is a true testament to the technology and innovative economy that we have been developing for the past 10 years,” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.

Joining the chorus of plaudits, Palm Beach County Commissioner and former Boca Raton Mayor Steven L. Abrams said, “KRS is a leader in its industry and its growth is impressive. It’s important for the county to partner with private industries to enhance economic sustainability and growth. KRS is a great example of a public-private arrangement that will continue to create quality career opportunities for our residents.”

Source: The Pineapple