Pharmaceutical company BestCo expands its NC facilities in Mooresville
Over-the-counter pharmaceutical company BestCo LLC is investing an additional $177 million to expand its Mooresville facility, according to an announcement Thursday by the Iredell County Economic Development Corporation and state officials.
It also creates nearly 400 jobs. Mooresville-based BestCo develops and manufactures over-the-counter medications, vitamins and dietary supplements.
The investment, designed to increase the company’s production capacity, will create 394 jobs with an average salary of $51,209, slightly above the Iredell County average. The company moves into an existing 215,000 square foot manufacturing building at 208 Manufacturers Blvd., about 40 minutes north of Charlotte, and builds a new facility on the same site.
BestCo invested around $50 million in an expansion in 2019. At the time, the company had around 500 employees. When the last expansion is complete, this number will have doubled.
The company will receive up to $2,000,250 in state incentives in the form of a performance-based, 12-year Job Development Investment Grant.
“North Carolina is one of the best places in the world for pharmaceuticals,” Governor Roy Cooper said in a press release. “Manufacturers like BestCo help us stay there.”
BestCo’s customers include private label retailers in the food, drugstore and mass retail sectors, in addition to global branded consumer goods companies.
BestCo’s products include lozenges, Soft Chews, coated SuperChew and the industry’s first drug-compliant chewable gel, known as SuperGel, according to the state.
BestCo’s project in Mooresville will add production and packaging capacity to its current operations, with a focus on its line of gummy products.
“The continued support and partnership of state, county and city officials has been instrumental in BestCo’s rapid growth and success in the region over the past few years,” said company president, Tim Condron, in a statement.
Investment throughout the region
The counties surrounding Charlotte have attracted a number of large-scale economic development projects over the past year.
Last month, pharmaceutical giant Eli Lilly announced it would build a major manufacturing plant in Concord, creating around 600 jobs and investing nearly $1 billion. The facility will be at the former Phillip Morris cigarette manufacturing site.
That same site attracted a $740 million investment from beverage companies Red Bull and Rauch last summer. The companies plan to build a 2 million square foot facility there.
In Catawba County, about an hour north of Charlotte, Corning Optical Communications announced plans last fall to create 200 jobs and expand current operations.
And back in Mooresville, Atlanta-based bottling company Battle Copacking is investing $13.6 million to build a plant, the company announced in early January. This project will create 21 jobs with annual salaries above the Iredell County average.
This is a developing story
This story was originally published February 17, 2022 3:31 p.m.