Cody Labs, 2015

Cody Labs was founded in 2000 by Ric Asherman, a former Navy Seal. In the beginning, they produced phentermine hydrochloride, a drug similar to amphetimine and used to treat obesity in those with high blood pressure, high cholesterol, or diabetes. The original facility employed 10 people.

In 2007 Cody Labs was bought out by the Lannett Company, a major manufacturer of generic pharmaceuticals. They expanded the production line, became one of seven companies licensed to import raw opiate materials, and expanded to 80 employees by 2010. A $3.5 million warehouse was built in 2015 and another 40 employees added to the role.

The new production facility

In 2014, the next phase was approved and construction on the $50 million production facility should begin in the spring of 2017! This new facility will take approximately two years to complete, plus an additional year of validation by the FDA. Once complete, Cody Labs will increase to 175 full-time employees with an average salary of $55,000 and an additional $2.5 million in revenue to our local community. It may not sound like much to some larger cities, but in a community of 9,500 people, this is a big impact!

Diversity is important for the City of Cody. Companies like Cody Labs can take advantage of our free market, low taxes, and amazing quality of life. At the same time, they bring economic diversity to our community, strengthening us outside of the tourist industry and balancing our economy during the off-season. Once the expansion is complete, Cody Labs will employ 175 professionals and create an additional $7 million spent in the local economy.

As these employees move into the area, they require housing. As a professional Property Manager in Cody, Wyoming, I provide quality rental homes for many of the Cody Labs employees. Once they are ready to put down roots, we are prepared to help them find a forever home in Cody, Wyoming.

I thank Forward Cody, the City of Cody, and Governor Matt Mead for their efforts in making this expansion a possibility!