Almac Group is prescribing significant economic growth for Souderton and Lansdale thanks to new plans for a $24.4 million expansion.

The pharmaceutical developer and manufacturer just received a $1.56 million Pennsylvania First Program gra

nt from the Pennsylvania Department of Community and Economic Development, and it anticipates investing the rest over the course of the next three years, according to a Philadelphia Business Journal report by John George.

The project is expected to enlarge Almac’s headquarters in Souderton, double its presence in Lansdale and create 312 new jobs.

“Due to significant industry demand for our services, it is essential we build capacity and increase headcount to ensure we continue to compete at a global level,” CEO Alan Armstrong said in the article. “This investment signifies our confidence in the pool of talent and skills right on our doorstep.”

Almac previously invested $100 million and created 264 new jobs when it established its Souderton headquarters in 2007.

Read more about Almac’s plans in the Philadelphia Business Journal here.