Drug researcher Charles River investing $20 million in Charleston

Further proving that the economic slowdown is not a complete stop, international facilitator of pharmaceutical research, Charles River Laboratories, is investing $20 million in the Charleston area and will add 60 jobs.

Charles River Laboratories"We’re thrilled to call South Carolina home and increase our investment in the local economy,” says Foster Jordan, a company senior vice president. “The state’s commitment to the life sciences industry, skilled work force, and technological innovation make South Carolina the ideal location for our expansion."

The company, which employs 9,000 world-wide, will locate a new research and warehouse facility near its headquarters in Charleston at 1023 Wappoo Road in West Ashley.

The process will take around 5 years.

Update December 18: The Charleston Regional Business Journal has some more details on the deal.