Tushar Chikhliker on Pharmaceutical and Technology Development
Nexsen Pruet's Tushar Chikhliker, head of the firm's economic development group, was recently quoted in The Post and Courier article "Charleston-area fabricator ramps up as production of Navy sub nears."
The article highlights the Charleston based comapny W-International, a metal fabricator ramping up production and hiring despite COVID-19, as well as industries expected to thrive post-coronavirus.
The pandemic has brought the pharmaceutical industry to the forefront, and Tushar Chikhliker thinks that’s not going to end when the virus fears fade.
“The likely uptick during the tail end of COVID-19 but also as things move forward into the future is in pharmaceuticals,” Chikhliker, an economic development attorney in Nexsen Pruet’s Columbia office, said during a Charleston Regional Development Alliance video series called “Resources for Resiliency.”
“A number of pharmaceutical companies have ramped up production to stabilize a domestic supply chain,” said Chikhliker, who also is chairman of the South Carolina Economic Developers Association’s legislative committee. The increased production is part of a move to reduce America’s reliance on foreign companies for drugs and medical supplies.
Technology jobs are also expected to thrive post-COVID-19. The Charleston region’s tech sector grew at the second-fastest rate in the U.S. last year at 5.8 percent, according to COMPTia’s annual cyberstates report. This area’s 5.8 percent growth rate trailed only Charlotte.
“Recruiting and retaining that kind of talent is going to be of immense importance,” Chikhliker said, adding the ability of many tech jobs to be performed from home gives Charleston and its quality of life an advantage.
And while economic disruption from the virus will cause some firms to bring jobs back to the U.S., Chikhliker said “we should not assume that there’s going to be a complete exodus back into the U.S. of that kind of supply chain.”
“The companies that are going to be most successful are the ones that diversify both domestically and overseas to hedge that risk,” he said.
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Nexsen Pruet, LLC is one of the largest law firms in the Carolinas, with more than 180 attorneys and offices in Columbia, Charleston, Greenville, Hilton Head and Myrtle Beach, South Carolina, as well as Charlotte, Greensboro and Raleigh, North Carolina. Founded in 1945, Nexsen Pruet provides a broad range of legal services to the business community and represents companies and other entities in local, state, national and international venues.
About Nexsen Pruet
Nexsen Pruet serves clients from nine offices across the Southeast. With more than 200 lawyers and professionals, the firm provides regional, full-service capabilities with international strengths.