Primordial Ventures, a medical supply manufacturer, has chosen Birmingham as the location for a new production facility, a startup that Commerce Secretary Ellen McNair said will help Alabama become less dependent on foreign sources for medical supplies.
Incorporated in 2022, Primordial Ventures specializes in manufacturing custom-made medical equipment, including cadaver bags, medical-grade tubing and biomass bags. The new production facility is expected to begin operations in early 2024, and create 30 jobs with an average salary of $47,840.
“Primordial Ventures will do more than just create new jobs at its Birmingham operation; this promising startup’s facility will also help to lessen our nation’s dependence on foreign sources for in-demand medical supplies,” McNair said in a statement.
“The pandemic’s supply-chain disruptions exposed the need for domestic production of these critical items, and that’s a core mission for this company.”
According to the Alabama Department of Commerce, Primordial Ventures invested an estimated $3.3 million to launch its operations in Birmingham, and received just under $816,000 in state economic incentives. For that, however, commerce is projecting 362% return on investment over a 20-year period, or an economic impact of $3.7 million.
Nicholas Alexander, president of Primordial Ventures, said that as a minority and veteran-owned company, the manufacturer would be committed to hiring minorities and veterans as among its first employees.
“Birmingham’s appeal stems from its alignment to our mission and vision,” Alexander said in a statement. “We have found it to be accessible, amenable to establishing network affiliations, and most importantly, committed to supporting our business after we land in Birmingham.”
Jimmie Stephens, president of the Jefferson County Commission, championed the company’s decision to locate its production hub in Birmingham, noting that the new facility would fit well with the city’s existing medical facilities.
Since being required to publish economic incentive data in July of 2023, commerce has awarded $74.4 million in economic incentives to businesses; $24.8 million in jobs credit, and $49.6 million in investment credit. On average, the department projects a 388% return on investment over 20 years for all economic incentives awarded since July.