Pegasus Takes Flight in Escambia County!

Dignitaries, citizens, elected officials, and officers from Pegasus Laboratories, Inc. Celebrate the opening of Pegasus' newly acquired facility in Escambia County's Ellyson Industrial Complex on Thursday, April 28, 2022.

It was a clear blue sky and70 degrees in Escambia County's Ellyson Industrial Park this morning as a group of locally elected dignitaries, economic development leaders, business leaders, citizens, members of the chamber of commerce, and the press welcomed the leadership of Pegasus Laboratories, Inc., to their new facility.

The facility, at 9101 Ely Drive, was the former Hitachi Cable Facility.  It is now the property of Pegasus Labs.  They received a $2.5 Million Dollar Award from Triumph Gulf Coast in exchange for their commitment to fund 60 new jobs at the facility paying an average wage exceeding $60,000.00 per year.  In addition to this, Florida West and the PEDC assisted with a financing package which allowed for this company to retrofit and modernize this facility at a cost of over $12 Million Dollars to facilitate the work they do--pharmaceuticals for the veterinary industry.  Then, via a long-term leaseback agreement that's more complex than I'll get into here, the company will occupy this facility and pay rent to PEDC for use of the building they will have renovated.

I was honored to speak today on behalf of the Board
of County Commissioners at the ribbon cutting of Pegasus
Laboratories' newly acquired facility in Escambia 
County

And the winners from this deal will be Pegasus, the community, the county, and the citizens who get jobs at this 520 employee strong (140 locally after the new hires are brought aboard)--employee-owned business that was founded in the mid 1980s and merged with a Kansas City company in the late 1990s.

I met several retired employees of this company after I was given the opportunity to speak to the crowd as a representative of the Board of County Commissioners and after all the other dignitaries had spoken.

One individual told me she is retired at age 50 from the company--and was passionately supportive of the expansion.  Executives from Pegasus, during their speeches, touted the fact that many of the company's original employees had been able to retire comfortably via the growth in their stake of their (employee-owned) company.  Pegasus Executive Chairman Don Chew described the growth he expects from this company in the years ahead "We are a $50 Million Dollar company, going to $100 Million in the next few years--I'm confident of that." 

Another gentleman, Mr. Gary Cushing, (one of the original founders of the company) told us a great story about the early days of the company, operating on a shoestring budget, borrowing money for his first building and getting the builders to invest in the company, and getting the first big-successful product on the street (a drug that's now the leader in the industry for animal incontinence).

David Bear, from Triumph Gulf Coast, addresses the attendees at today's ribbon cutting

According to his recollection of the CDC (veterinary) approval process for this drug (now called Proin)--they (Pegasus) had the preliminary approval of their first of its kind medication for animals, with a primary active ingredient that, at that time, was an over the counter medicine that was and is common-phenylpropanolamine.  The success came quickly, according to Cushing.  "We were doing very well with the product in liquid and chewable formulations--but then the issue of illicit "cooking" of drugs containing phenylpropanolamine for the making of methamphetamine led to limits on the sale of these drugs."  he continued  "Luckily, one of our [Pegasus] guys knew the number for the #2 guy at the CDC, the man who could get us the green light to continue selling our medicine.  So we called him, we spoke to him, and what do you know--he had a pet that had incontinence!" He summed it up by saying "We got the approval we needed stamped that day, in one day!"

He was quick to point out that he's retired now--but I could see the passion in his face as he retold this story.  He also talked about a French company that early on tried to take on Proin.  "Our team of 7 salesmen beat that company--we beat them back and we are still on top." 

Great company, great history, great people.

Economic Development is alive and well here in Escambia County--and this was a great day for it!