A pharmacy benefit management company headquartered in Daviess County has announced plans to expand. True Rx Management Services says it will invest nearly $2 million to build a new facility near I-69 in Washington and create 90 jobs by 2023. Co-founder and Chief Executive Officer Mark Williams says the city and county have provide a “solid foundation upon which to grow our national business.”
In an interview with Inside INdiana Business, Williams said the company, which was founded in 2007, has grown significantly over the past five years.
“We are a sister company of Williams Brothers Health Care Pharmacy and we have used their space for the last 10 years and we’ve outgrown the space they have here,” said Williams. “We added 20 employees to our staff this year, so we went from 36 to 56 employees. Our growth has been 30-40 percent every year for the last four years, so we bought a six-acre lot next to the bypass.”
The new facility will have 15,000 square feet of space with the ability to expand to 30,000 square feet, which Williams says he expects to happen after a few years.
Williams says it was important to him and the company to stay rooted in Daviess County.
“A lot of people say that, ‘Don’t you need to go to a bigger city and draw more talent?’ I can tell you that once we get employees into True Rx, they don’t leave. It’s hard to find good jobs in a smaller, local community and so you get good employees, they stay. So we feel like we’re offering really good jobs here in our local communities; we draw from several different counties. And we’re very proud to be able to offer the employees we have a good job with good health benefits and we think it’s great for the community.”
Williams says the company is “very fortunate” to be able to grow during a pandemic, when many companies are having to cut costs.
“I think a lot of companies are looking for solutions to help control their healthcare because they’re going through some rough times and we’re able to go in there and help consult on how to control their healthcare costs, help them from a financial standpoint. We’re very, very fortunate to be in the business we are. I think all of our employees feel lucky they can come to work every day or they can work from home.”
The company did not provide a time frame for the new facility’s construction.
The Indiana Economic Development Corp. has offered True Rx up to $800,000 in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The Washington City Council will consider additional incentives.
Williams says the company has grown significantly over the past five years.