A $7 million dollar joint economic development incentive program offered by Lanesville, Harrison County, and the State of Indiana has attracted a new pharmaceutical manufacturer.
Areva Pharmaceuticals, Inc., makers and marketers of pharmaceutical products and ophthalmic pharmaceuticals used for the treatment of cancers, hypertension, heart disease and glaucoma, becomes the first company to locate in Lanesville’s Interchange Industrial Complex. Areva’s Lanesville presence starts with a global distribution center within the complex. Phases II and III include a facility for on-site research and development and a facility for the manufacturing of sterile pharmaceutical products.
Harrison County business and government leaders reacted quickly to outline a plan to develop the land and build a building for this project. Darrell Voelker, the Director of the Harrison County Economic Development Corporation said, “The Lanesville interchange area has always held great promise for business growth in our county, but the interest shown by Areva and the commitment to establish the infrastructure there is now making this development a reality.”
County Council Chair, Gary Davis added, “Areva brings to Harrison County the type of company that’s perfect for economic development. Their initial distribution warehouse and eventual high-tech manufacturing facility will result in new jobs offering very competitive wages and long-term stability.”
The incentive package includes land and infrastructure development over the next ten years. The incentives also include a 60,000 square foot building making the total investment package worth more than $7 million dollars over the next three years. The ED Corporation requested a $5 million loan from the County Commission that was approved by the County Council in November. The County also approved the funding for the Town of Lanesville and the Harrison County Regional Sewer District to cooperatively extend a sewer line from the Lanesville Treatment plant. Voelker said that community leaders, particularly the County Commissioners and County Council members, took quick, aggressive steps in support of this unique project and made bold decisions in an extraordinary fashion. “It was the James L. Shireman Company that encouraged Areva to look at the Lanesville site in late September. By mid-November the property was under control and the funding for the development was approved. That was quick action,” said Voelker.
An additional incentive package in excess of $2 million has also been promised by the Indiana Economic Development Corporation to encourage Areva to choose Indiana. “Areva feels fortunate to have found a community partner in Lanesville,” said Areva President Victor Swaminathan, “we are anxious to quickly turn those investment dollars into jobs and growth opportunities for your citizens.”
“Given the specialized nature of the medications we manufacture for the U.S. healthcare system, we look for the local and regional job market to provide us with a wealth of talent and a commitment to the Areva long term vision,” said Greg Olson Chief Operating Officer for Areva. “Darrell Voelker of Harrison County Economic Development was very instrumental in bringing Areva Pharmaceuticals to Lanesville. We thank the Council members and Darrell for their commitment to Areva and to the residents of Harrison County.”
Areva’s ownership consists of company Chairwoman Irene Swaminathan and her husband Victor who serves as president. Irene Swaminathan is a registered pharmacist and patent attorney. With Irene’s leadership, Areva joins the ranks of the thousands of minority-owned entrepreneurial ventures in the U.S. Victor Swaminathan, also a registered pharmacist, began his entrepreneurial ventures in 2003 with the launch of ADiO Health Management Solutions. The company is the largest direct-delivery pharmacy serving mental health centers throughout Kentucky.
Areva’s customer base includes hospitals, infusion therapy pharmacies, mail order pharmacies, long term care facilities, mail order pharmacies, etc.