Galexe Pharma Sciences, a subsidiary of Virginia-based Excela PharmSci Inc., plans to open a pharmaceutical manufacturing plant in Lenoir. The company plans to hire 55 new employees and invest $8.6 million over the next three years.
Galexe Pharma chose Caldwell County over other areas in the United States and India due to the affordable cost of living and the various grants and incentives offered, as well as the availability of a local talent pool, close proximity to several equipment vendors and milder year-round weather.
The move to North Carolina is made possible in part by a $250,000 grant from the One North Carolina Fund. The One North Carolina Fund provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state.