First Posted: 10/31/2013 8:42:46 PM | Last Updated: 10/31/2013 8:43:29 PM
LAFAYETTE – ACell Inc. announced last week that it will expand its Lafayette operations in Duncan Park.
The expansion includes $6 million in equipment, 50 new jobs on top of today’s current employment of 70, and 14,000 square feet of new space, bringing its facility size to 42,000 square feet by spring.
Duncan Park developer, INOK Investments LLC, is spending another $3 million to construct the ACell addition and a new stand-alone building in the 79-acre park.
"Today’s announcement is akin to opening one gift after another, each one more spectacular," said Lafayette mayor Tony Roswarski. "First, we have the facility investment by INOK Investments LLC. Next we have an announcement that a young company will keep growing here—and it’s not only a business with huge potential, it’s a next-generation science business that is successfully pioneering advances in the medical world. Its products heal wounds, restore function and improve human lives."
Jody Hamilton, economic development director for Greater Lafayette Commerce, which worked with the company, said, "This is a leading-edge company that is making giant strides. It’s growing, growing here, and rapidly gaining recognition in the medical world for its products. ACell’s news today is quite a milestone, for the company and for our community."
ACell Inc. was founded in 1999 by physician Alan Spievack, who has since died, and is headquartered in Columbia , Maryland . The private company develops and manufactures regenerative medicine products that are used to repair and remodel damaged tissue.
It opened its Lafayette operations, the company’s only other site, in May 2006, in a 2,500 square-foot-facility in Duncan Park, and has increased its space a couple of times since.
"The saying, 'If you build it, they will come,' is indeed true here in Lafayette," said Jerry Brand of INOK Investments LLC. "What we are building in this community is a positive business climate, an exemplary quality of life, and attractive commercial and industrial sites. Add in our educated, dedicated workforce, and we have companies like ACell saying 'yes' to Lafayette."
"ACell is the kind of company that every community would like to have," Roswarski said. "This is a company with a solid business plan, a determination to grow and a commitment to introducing and supplying breakthrough medical products that were only dreamed of a few years ago."
About Greater Lafayette Commerce. Headquartered at 337 Columbia St. in Lafayette , Greater Lafayette Commerce (www.greaterlafayettecommerce.com), whose roots go back more than 85 years, is a nonprofit membership organization supported by local businesses, industries and governments. Its mission is to advance economic and community prosperity for a superior quality of life.