Manufacturing & Production
JRS Pharma plans $18 million manufacturing expansion in Cedar Rapids
The Cedar Rapids City Council will be sponsoring JRS Pharma’s application for state financial assistance to help expand its manufacturing operations in southwest Cedar Rapids, according to Corridor Business.
JRS Pharma is planning a 9,200-square-foot expansion of its manufacturing facility, including related site improvements, machinery, and equipment. The project comprises an $18 million capital investment which will result in the creation of 18 new jobs, all of which will meet the state’s current High Quality Jobs wage threshold of $24.40 per hour.
JRS Pharma will receive a ten-year, declining scale tax exemption on new property value generated by the project, in accordance with the Urban Revitalisation Plan for the area. The incentive will provide an estimated exemption of $462,000 in total property taxes over the ten year period.
JRS is a manufacturer of excipients (inactive substances that serve as the vehicle or medium for a drug or other active sbstance) for the global health science industry. The company’s products include high functionality excipients, binders, disintegrants, lubricants, functional fillers, thickeners, stabilisers, carriers, and coatings.