Pharmaceutical company headquarters to bring 40 jobs
A pharmaceutical company is locating its headquarters in Charleston, a move expected to create about 40 new jobs over the next five years.
New World Pharmaceuticals and its sister company, New World Consumer Products, will spend about $21 million as they locate in downtown Charleston.
Charleston’s Digital Corridor has worked with 51 companies over the past six years. That’s resulted in the creation of 200 jobs and an estimated $15 million in payroll.
New World president and founder Fred Sexton says his company wanted to be near colleges and universities that can assist in continued research and development.
Obama pledges to promote U.S. products
President Barack Obama says American manufacturing is a good bet in a global economy and he’s going to make promotion of U.S. products a priority during the rest of his time in office.
Obama said in a visit to Pittsburgh that technological advances at home are putting production tools in the hands of everybody who has a good idea. He said he wants to have policies to encourage more entrepreneurship to lift up the U.S. economy.
As an example, he showed off the special case he uses to protect his iPad.
Large area off Massachusetts coast being opened for commercial wind leases
Massachusetts Gov. Deval Patrick and U.S. Interior Secretary Sally Jewell say a large area off the coast is being opened for commercial wind energy leases.
The officials said the proposed area is more than 742,000 acres, or more than 1,160 square miles. That’s larger than the area of Rhode Island and will nearly double the federal offshore acreage available for commercial-scale wind energy projects. The area is about 12 miles offshore, south of Martha’s Vineyard, and will be auctioned as four leases.
So far the government has awarded five commercial wind energy leases off the Atlantic Coast, including Cape Wind in Nantucket Sound off Massachusetts and an area off Delaware. Two competitive leases also have been awarded in the Massachusetts-Rhode Island area and Virginia.
UPS to consider box size when setting prices for ground shipment
UPS says it will consider box size when setting prices for ground shipment of parcels within the U.S. and Canada. The move announced Tuesday follows a similar change by rival FedEx.
United Parcel Service Co. believes that the change will push customers to put lightweight items in smaller boxes that take up less space on its familiar brown trucks, reducing the company’s costs.
The change takes effect Dec. 29, after the big holiday-season shipping period. UPS already factors box size in rates for air shipments.
Packages have become lighter in relation to size over the past few years, which UPS says leads to higher costs and less efficient use of cargo space. The Associated Press contributed.