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COLUMBIA (WACH) -- Governor Nikki Haley along with Lexington County, the Central SC Alliance, and the University of South Carolina announced Friday that Nephron Pharmaceuticals is expanding to Lexington County. The $313 million investment is expected to generate 707 new jobs.

The Orlando-based company is a manufacturer of generic respiratory medications. According to the company's website they already produce one billion units of medication a year.

“We are excited to expand our company by locating our new manufacturing facility in Lexington County. This is a big step for our firm and will help us meet increased demand, expand our market share and develop our pipeline of products. South Carolina has an excellent business environment and we look forward to our expansion into the Palmetto State,” said Lou Kennedy, CEO of Nephron Pharmaceuticals Corporation.

The S.C. Department of Commerce says they have committed a set aside grant of $4.5 million for site preparation and infrastructure. The commerce department also said Nephron will also get job development credits when hiring targets are met.

“It’s another great day in South Carolina with today’s announcement. We celebrate Nephron Pharmaceuticals’ decision to locate its new manufacturing facility in the Midlands and create hundreds of well-paying new jobs. This is a big win for our state,” said Gov. Nikki Haley.

“Nephron Pharmaceuticals’ investment and new jobs will have a huge positive impact on our state. This new facility will be a major boost for our pharmaceutical manufacturing sector. Today’s announcement is the largest one in the state’s life sciences industry this year,” said Bobby Hitt, Secretary of Commerce.

The new facility will be located on a 60-acre parcel of land near the Amazon facility in Lexington. It is expected to be up and running in the next couple of years.

Gov. Haley recently honored Nephron CEO Lou Kennedy and William Kennedy with the Order of the Palmetto for their philanthropy in founding the Kennedy School of Pharmacy at the USC. They are both from South Carolina and USC alumni.