Tides Medical, a producer of skin graft products distributed nationwide for use in the treatment of chronic or difficult-to-heal wounds, announced it is investing $1.5 million to upgrade its corporate headquarters and manufacturing facility in Lafayette.
The expansion will allow the company to increase production of its amniotic skin substitutes to meet growing demand.
The company will create 40 new direct jobs with average annual salaries of $57,790.
Tides Medical will also retain 77 existing positions. Louisiana Economic Development estimates the project will create an additional 54 new indirect jobs, for a total of 171 new and retained jobs in the Acadiana Region.
Founder of Tides Medical, Joe Spell, tells KATC, "I'm a Lafayette native, there's no better people in the country than the ones from Lafayette. We've got tons of talent here, people are willing to try and learn anything and you can certainly teach people from Lafayette something new."
“Louisiana is proud to have Tides Medical as a part of the state’s vibrant and expanding life science sector,” said Gov. John Bel Edwards. “My administration is committed to growing and diversifying our economy through industries like biotechnology, and this is another milestone in our work. This expansion will allow Tides Medical to expand its mission to provide safe, effective treatments that improve health outcomes around the country while also creating good-paying jobs in Acadiana.”