Tides Medical

Lafayette/Acadiana Region

The Mission

Tides Medical is a producer of skin graft products distributed nationwide for use in the treatment of chronic or difficult-to-heal wounds.

The Challenge

Tides Medical sought to increase production of its amniotic skin substitutes to meet growing demand.

The Opportunity

Louisiana offered Tides Medical a competitive incentives package that included:

Performance-based grant of $200,000 for reimbursement of equipment expenditures, contingent upon the meeting of employment and payroll targets.

Qualified 80-percent property tax abatement for up to 10 years through the state’s Industrial Tax Exemption Program, contingent on meeting job creation and payroll commitments.

Up to a 6 percent rebate on annual payroll expenses for up to 10 years, and a 1.5 percent project facility expense rebate for qualifying expenses, through the state’s Quality Jobs program.

Performance-based grant of $200,000 for reimbursement of equipment expenditures, contingent upon the meeting of employment and payroll targets.

Qualified 80-percent property tax abatement for up to 10 years through the state’s Industrial Tax Exemption Program, contingent on meeting job creation and payroll commitments.

Up to a 6 percent rebate on annual payroll expenses for up to 10 years, and a 1.5 percent project facility expense rebate for qualifying expenses, through the state’s Quality Jobs program.

The Outcome

2023

Tides Medical completed construction on an expansion of its manufacturing facility and corporate headquarters.

$1.5 Million

capital investment

40

direct new jobs

77

retained positions

54

indirect new jobs

2023

Tides Medical completed construction on an expansion of its manufacturing facility and corporate headquarters.

$1.5 Million

capital investment

40

direct new jobs

77

retained positions

54

indirect new jobs

“As we have discerned where, when and how to reinvest back into our company, the support of LED has helped Tides Medical become a biotechnology frontrunner in Louisiana.”

– Joe Spell, CEO, Tides Medical

Noteworthy

Tides Medical was named to the 2023 Inc. 5000 list of America’s fastest-growing companies, due to its three-year revenue growth of 236%. Tides ranked 11th in the state and was the only Louisiana biotech company to make the 2023 list.

Tides Medical

Lafayette/Acadiana Region

The Mission

The Challenge

The Opportunity

The Outcome

2023

$1.5 Million

40

77

54

2023

$1.5 Million

40

77

54

“As we have discerned where, when and how to reinvest back into our company, the support of LED has helped Tides Medical become a biotechnology frontrunner in Louisiana.”

Noteworthy

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