The Lafayette-based biotech company – Tides Medical is expanding its corporate headquarters and manufacturing facility. With a growing demand for amniotic skin substitutes, the $1.5M upgrade will increase nationwide productivity. Tides Medical CEO, Joe Spell, says the expansion will retain 77 jobs and create 40 new ones.
“We need to invest in our facility to increase production capacity, more room for support staff – just the necessary expansion to continue to serve the patients that can benefit from our products,” said Spell
Tides Medical manufactures and distributes natural skin solutions used to treat patients with difficult-to-heal wounds and medical skin trauma. Spell says innovative medical research improves health outcomes.
“We get letters from patients. I lot of these patients are very sick – are at high risk of amputation and we save their limbs,” said Spell.
Spell says the state offered a competitive incentives package that included a $200,000 performance–based grant.
“It’s not our first expansion but definitely been our biggest. I’m sure there will be more to come and more investment in the state,” said Spell.
The company estimates the project will be complete by the end of this year.
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