Pegasus Laboratories announce major expansion in Pensacola
The Pensacola-Escambia Promotion and Development Commission (PEDC) has been awarded a $2.5 million Triumph Grant to support the expansion of Pegasus Laboratories, a pharmaceutical drug research, development, and manufacturing company headquartered in Pensacola. The grant enabled PEDC to acquire an existing facility in the Ellyson Industrial Park that will be leased to Pegasus. Pegasus has operations adjacent to the property and this new facility will help expand their campus.
Pegasus Laboratories is a Contract Development and Manufacturing Organization which produces animal health products and pharmaceuticals. It distributes these products under their PRN Pharmacal brand into the veterinary market. Pegasus Laboratories has been in operation in Pensacola for 37 years and currently employs 140 people. The company is a subsidiary of PBI-Gordon Companies, Inc.
With the expansion, Pegasus Laboratories plans to add several new product lines and increase its manufacturing capabilities. The project is expected to create 63 new laboratory and life-science manufacturing jobs over the next five years, resulting in an increased average annual wage which is 136% higher than the 2021 average wage in Escambia County.
“This major investment in our infrastructure will support the growth expectations we have for Pegasus and secure our ability to scale production and achieve our future goals,” said Steve Clifford, President and Chief Executive Officer of PBI-Gordon Companies, the parent company of Pegasus. “We’re proud to partner with PEDC, FloridaWest, and Triumph Gulf Coast to contribute to the economic vitality of the community.”
“This is a great example of how PEDC and FloridaWest were able to parlay grant money from Triumph Gulf Coast to expand an existing business and create more than sixty additional laboratory and life-science manufacturing jobs in the Pensacola area,” said Collier Merrill, Vice-Chair, Triumph Gulf Coast.
FloridaWest Economic Development Alliance has been working on this project with Pegasus Laboratories since June 2021 to assist in its expansion.
“We recognize that manufacturing is crucial to our economy,” said Scott Luth, FloridaWest CEO. “Our manufacturing companies promote research and development as well as creating high wage jobs that improve the quality of life throughout Escambia County. FloridaWest and PEDC had a pivotal role in working with Triumph Gulf Coast, PBI Gordon and Pegasus to both retain and help this innovative company continue to grow in our community.”