YFS Pharma, a Cheektowaga drug development business, is getting $500,000 in state tax credits for a $2.6 million project to build a new pharmaceutical manufacturing facility.
YFS Pharma is part of You First Services, a company that was created four years ago to help develop and sell technology that came out of the laboratory but hasn't been commercialized because of a lack of resources. You First is part of the state's Start-Up NY tax-free program.
The YFS Pharma project involves the construction of a 9,467-square-foot facility at 485 Cayuga Road that would allow the company to make products for commercial use or clinical trials. The company already leases nearly 7,000 square feet of space in the building.
"It is the vision of YFS to be a world-class research and development company," said Satish Sharma, the executive chairman of You First Services.
YFS Pharma currently has 18 full-time employees. The company has pledged to create 28 new jobs, making it eligible to receive up to $500,000 in tax credits through the state's Excelsior Job Program.
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