Connect with us

Headlines

Bausch + Lomb Plans $35M Expansion in Virginia

It will create 79 jobs.

mm

Published

on

RICHMOND, VA — Bausch + Lomb, eye health business of Bausch Health Cos. Inc., will invest more than $35 million to expand its manufacturing facility in Lynchburg, VA. In total, 79 new jobs will be created over the next five years, according an announcement from the Virginia Economic Development Partnership.

The company’s investment includes the purchase of 13.1 acres of land across from its operation at 1501 Graves Mill Road, and the new facility will expand the overall site to 190,000 square feet, which will provide distribution capabilities for the company’s medical device products, primarily contact lens products, and will be the main point of distribution in the U.S. The company considered locations in other states, however, the strong performance of the current operations and favorable economic environment associated with Virginia made Lynchburg the logical choice for the expansion, according to the announcement.

Introducing Varilux® Comfort Max Lenses
Sponsored Webinars

Introducing Varilux® Comfort Max Lenses

See Our Full Schedule of COVID-19 Webinars
Webinars

See Our Full Schedule of COVID-19 Webinars

INVISION & Cleinman Present: The Re-Opening — Down & Dirty [Webinar Replay]
Webinars

INVISION & Cleinman Present: The Re-Opening — Down & Dirty [Webinar Replay]

“Bausch + Lomb has been a valuable employer and partner to Virginia for more than 25 years, and we are thrilled to see this global company expanding its manufacturing and distribution operation in Lynchburg,” said Virginia Gov. Ralph Northam. “The region’s infrastructure and world-class workforce will position the company for continued growth and success, and we thank Bausch + Lomb for this important economic boost for our Commonwealth.”

Bausch + Lomb develops, manufactures and markets a product portfolio available in more than 100 countries. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. The company employs more than 195 workers throughout Virginia, with 153 reporting to its Lynchburg facility.

“Bausch + Lomb’s selection of Virginia as its primary distribution point for the United States is a testament to our strategic location and economic climate, and we thank the company for its major investment and 79 new jobs,” said Secretary of Commerce and Trade Brian Ball. “This expansion in Lynchburg will allow the company to meet increasing demand for its eye health products, and Virginia will continue to support Bausch + Lomb as we work toward economic recovery and increased opportunities for citizens across the Commonwealth.”

Advertisement

Joseph C. Papa, chairman and CEO of Bausch Health, said: “Bausch + Lomb is one of the world’s most respected eye health brands, due in large part to the high-quality contact lenses distributed from our Lynchburg site. The existing proficiencies and expertise in Lynchburg made it the right place to invest in a needed expansion to help us meet anticipated demand for our newest and most innovative contact lens products. The additional capability in Lynchburg will enable us to ensure Americans have access to our high-quality contact lenses, which is critical to our company’s ongoing transformation and to helping us meet our mission of improving people’s lives with our health care products.”

The Virginia Economic Development Partnership worked with the City of Lynchburg to secure the project for Virginia. Northam approved a $210,000 grant from the Commonwealth’s Opportunity Fund to assist Lynchburg with the project, as well as a performance-based grant of $300,000 from the Virginia Investment Performance program, an incentive that encourages capital investment by existing Virginia companies. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Department of Housing and Community Development.

Support for Bausch + Lomb’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System, with funding support from the Northam administration and the General Assembly. Launched in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.

Advertisement

SPONSORED VIDEO

SPONSORED BY ESSILOR

Introducing EssilorLuxottica 360

A new program powered by Essilor, Luxottica and EyeMed that is designed to help your practice improve traffic, visibility and patient experience while maximizing profitability. Learn More at 360.EssilorLuxottica.com

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular