JEFFERSON CITY, Mo. (AP) -- A Canadian pharmaceutical and biotechnology contract research company plans to spend $31 million expanding its operations in St. Charles in a move that could create 320 jobs, state officials said Thursday.
The state is offering about $4.2 million to Pharma Medica Research Inc.'s expansion project through the Missouri Quality Jobs Program. The company will need to meet job creation and investment criteria to receive the state incentives.
Pharma Medica Research is based in the Toronto area and conducts research and development for pharmaceutical companies and performs trials. The company's work includes scientific affairs, medical writing, bioanalysis, data management and clinical trial monitoring. Gov. Jay Nixon said he met with company leaders earlier this year during a convention in Chicago.
"This substantial investment will further strengthen Missouri's position as a leader in bioscience," Nixon said.
The governor's office said Missouri has more than 4,000 bioscience, agribusiness and life science companies already operating in Missouri.
Pharma Medica Research plans to rehabilitate a building in St. Charles to expand drug trial operations that previously housed a clinical research organization. The company said establishing a research center in St. Charles will help it work with more clients and compete globally.
St. Charles is about 25 miles west of St. Louis.