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"If all goes according to plan," as UNDBIO chairman Yong Soo Jun put it, West Virginia could soon be home to another significant economic player.
UNDBIO is a South Korean pharmaceutical manufacturer expected to build an insulin-manufacturing facility in Morgantown, where three years ago approximately 1,500 jobs were lost when Viatris, formerly Mylan, closed its doors. Specifically, the company plans to break ground at the West Virginia University Research Park on a facility that will produce a once-weekly insulin-injection system. Seeking approval from the U.S. Food and Drug Administration is part of phase one of the project.
It sounds like another promising development. For the state's part, taxpayers will contribute $3 million for every $30 million of investment by UNDBIO -- expected to top out at $9 million. The company also must hire a certain number of employees to qualify for the state's contribution.
Gov. Jim Justice says the company is expected to create 200 jobs in the first three years.
"Today, we are truly Mountaineers," Jun said. "The mission of UNDBIO is a vital one: to develop and produce state-of-the-art technology in West Virginia that is a reasonable price for the diabetes population. The products of UNDBIO will both save human lives and improve the quality of life for those afflicted with diabetes. If all goes according to plan, UNDBIO will become one of the top bio-pharmaceutical companies."
Perhaps it is a good sign that both state and corporate officials are starting to be more careful with their word choice in making these announcements. They're talking now about "potential," and transactions that are "really going places," as opposed to the let downs we've had so many times before.
Still, if it is true Jun and his colleagues are already thinking of themselves as Mountaineers, we are glad to see them join the list of employers who understand what West Virginia can do for them. Here's hoping the company exceeds its potential to benefit patients and the state.