Alpha Genesis Recognized by Beaufort Chamber With Civitas Economic Impact Award
Tuesday, June 11th, 2019
Alpha Genesis, a primate research organization, was recognized by the Beaufort Chamber of Commerce for its significant regional economic impact during its 2019 Civitas Awards for Business Excellence, held on Dataw Island the evening of June 7. The Regional Economic Impact Award is sponsored by Merrill Lynch-Bank of America and recognizes a business that has demonstrated significant accomplishments in promoting economic prosperity and quality of life in the Beaufort County region. Businesses nominated for this award create a significant economic impact through investment, risk-taking and job creation on a macro level.
According to the Company website, Alpha Genesis has operated in Beaufort County for over 16 years and, in 2018, was named by Grant Thornton as a South Carolina Top 100 Private Company. Alpha Genesis provides high-level scientific support to the pharmaceutical research community and employs over 135 full-time staff. Company revenues have more than doubled over the last six years and are projected to grow at a rate of 6%-10% per annum over the next five years. Alpha Genesis is in the middle phase of a five-year 5 million dollar expansion to provide additional quarantine and holding facilities, to enhance its service offerings by purchasing more specialized medical research equipment and hiring additional research staff, and to continue its overseas outreach efforts with an emphasis on winning new contract research clients from the European and Asian pharmaceutical communities.
According to a statement issued by Greg Westergaard, Alpha Genesis President and CEO, the greatest challenge to the Company has been to "create breakout growth from being a small business serving a limited number of regional customers to an international business serving customers worldwide. The Company has met this challenge by recruiting talented people with high potential from the local community and investment in training these individuals to become skilled professionals. Local service providers and vendors have also played a crucial role. Investment in the Beaufort County region remains our highest priority. Sourcing local talent and reinvesting proceeds in Company growth allows us to strengthen our relationships with the community and provide unique opportunities to those wishing to make Beaufort County an even more prosperous community."