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West Palm Beach, FLA –The Business Development Board of Palm Beach County (BDB), in cooperation with the State of Florida, Palm Beach County and the City of Boca Raton, announced that it assisted KRS Global Biotechnology, a manufacturer of sterile and non-sterile compounding services to patients, hospitals, clinics, and universities nationwide, expand its operations in Palm Beach County.
The company located at 791 Park of Commerce Boulevard in Boca Raton, will enlarge its current space by 100,000 square feet, make a capital investment of $28 million and hire an additional 160 employees to its current workforce of 57.
The BDB assisted the company with applications for state and local incentives along with information pertaining to training grants.
“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 ten years”, said Kelly Smallridge President and CEO of the Business Development Board of Palm Beach County.
Bill Johnson, President and CEO of Enterprise Florida, said, “KRS Global Biotech is creating 160 jobs in Boca Raton, which is great news for South Florida. As a leader in the medical industry, KRS is committed to the highest success, and Florida has the business climate, workforce, and infrastructure to help them grow and expand. I look forward to their continued success as they help us make Florida the global leader for business.”
KRS Global is a leader in its industry and has impressive growth. It’s important for the county to partner with private industry to enhance economic sustainability and progression. KRS is a great example of a public-private arrangement that will continue to create quality career opportunity for our residents,” remarked Palm Beach County Commissioner Steven Abrams.
Palm Beach County Mayor Mary Lou Berger said, “It’s exciting that KRS is expanding its corporate headquarters in Palm Beach County. Bio-sector companies are continuing to grow and flourish in the county resulting in high-paying careers for our residents.”
Boca Raton Mayor Susan Haynie is excited that KRS Global Biotechnology has decided to stay and significantly expand its international headquarters in Boca Raton. She is proud of the success of KRS Global Biotechnology and its role in the medical-biotech cluster that continues to develop in Boca Raton. The Mayor believes that the company’s creation of 160 new biotech jobs is a big win for the community.
About KRS Global Biotechnology: KRS is an industry-leading customized FDA registered and inspected 503b Human Outsourcing Facility that provides sterile and non-sterile compounding services to patients, surgery centers, ophthalmology clinics, hospitals, universities and veterinarians nationwide.
About the BDB: The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, its primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 12,600 direct jobs with average salaries greater than $67,000 resulting in more than $693 million in capital investment to Palm Beach County and an economic impact that exceeds $5.87 billion.