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Business/Economy

Tonawanda's Pine Pharmaceuticals expanding with $8.6M addition

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Riverview Solar Technology Park
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A Tonawanda pharmaceutical manufacturing plant plans to triple its size and hire 40 new full-time employees.

Gov. Andrew Cuomo's office has announced that Pine Pharmaceuticals LLC, 355 Riverwalk Parkway in the Riverview Solar Technology Park, will be getting $650,000 in refundable tax credits from the state's Excelsior Jobs Program.

The rapidly growing company has doubled its workforce during the last two years and will invest $8.6 million for a 50,000-square-foot addition. Construction is set to start in March and be completed by the end of the year.

Pine Pharmaceuticals will also be getting a 136 kilowatt low-cost seven-year power allocation from the New York Power Authority's ReCharge NY program.