Biotech company will invest millions to expand its operations in Richland County
A biotech company based in Irmo is expanding its operations with a multi-million dollar investment that’s expected to created dozens of jobs, according to Richland County Council.
Integrated Micro-Chromatography Systems Inc., which was founded in 2013 by three scientists from the University of South Carolina, manufactures and distributes biotechnology products, county council said Wednesday in a news release. Those products are used to fight diseases such as COVID-19, according to the release.
By investing $4.1 million to expand its facilities in Richland County, the company plans to increase production of new enzymes that will be used to create therapeutic drugs to treat neurodegenerative diseases, such as Parkinson’s and Alzheimer’s, the release said.
The expansion is expected to take place over five years and will create 31 jobs, county council said.
The biotech company is expected to buy a larger building in Richland County to go along with its headquarters in Irmo and a second nearby facility it bought in 2019, according to the release. The money and jobs will be spread across the facilities, county council said.
“We were a USC IdeaLabs incubator company and have continued to grow in (Richland County) over the past seven years,” Integrated Micro-Chromatography Systems CEO Andrew Lee said in the release. He founded the company along with fellow USC scientists Qian Wang and William Brewer. “As we look to expand our operation to a third facility, it is only natural that we would want to do so here.”
As part of the expansion, county council said it approved a special source revenue credit to reduce property taxes for the company by 35 percent over 10 years.
“The tax incentives provided by (Richland County) will allow us to continue investing in people, capital equipment and facilities to expand our company and increase economic development in the county,” Lee said.
IMCSzyme, one of the company’s flagship products, improves the accuracy and quality of samples used in tests.
Integrated Micro-Chromatography Systems’ products are used by clinical and forensic toxicology labs, academic research facilities, federal government agencies and health science companies, according to the release. The drug testing labs use the company’s micro separations products to discover antibodies that can be used to fight diseases.
The company has 40 full-time employees and 600 clients in every U.S. state and 15 countries, it said in the release. Its products are used to perform millions of tests monthly.
“County Council is always eager to support growing businesses in Richland County, and it is especially exciting to watch a company like IMCS get its start here and achieve so much,” county council chair Paul Livingston said in the release. “The investment and new jobs IMCS is bringing to our community will benefit our residents.”
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This story was originally published April 7, 2021 at 10:15 AM.
