$177M BestCo Expansion Bringing Nearly 400 New Jobs to Iredell County
Over-the-counter pharmaceutical, vitamin, and supplement products manufacturer BestCo has announced plans for a $177 million expansion of its Mooresville manufacturing site, creating 394 jobs.
According to a news release issued by Gov. Roy Cooper, "North Carolina is one of the top locations in the world for pharmaceutical, and innovative manufacturers like BestCo help keep us there. Life science companies rely on the educational and workforce training systems we’ve built for their specific needs, and we’ll continue to invest in the workers who power this important industry in our state.”
BestCo develops, manufactures, and packages over-the-counter drugs and supplements for a wide range of consumer healthcare categories. Its customers include private-label retailers in the food, drugstore and mass-merchant channels, as well as branded, global consumer-product companies.
BestCo’s project at the Iredell County site will add both production and packaging capacity to its current operations.
“BestCo is part of a dynamic community that continually values and invests in fast-growing businesses,” said BestCo President and CEO Tim Condron. “The ongoing support and partnership from state, county and city officials has been instrumental in BestCo’s rapid growth and success in the region in recent years.”
According to North Carolina Commerce Secretary Machelle Baker Sanders, “We’re excited to support the expansion of a North Carolina company that’s already doing well in our state, and with the state’s continued commitment to workforce development, we’re confident more growth is ahead for this company and the state’s pharmaceutical industry overall.”
The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.
The average salary for BestCo’s new jobs will be $51,209, which is in line with the current average wage in Iredell County of $51,136. More than $20.1 million will enter the community’s economy annually from the project’s new payroll impact.
BestCo’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee this week. The project is estimated to grow the state’s economy by $2.8 billion during the 12-year term of the grant.
“We are at a time of innovation among our industries, they are investing in themselves and in our community,” said Mooresville Mayor Miles Atkins. “BestCo has been an outstanding corporate citizen in Mooresville for many years and we are honored they have chosen to continue to invest locally and employ our residents.”
“It’s great to see BestCo expand again in Mooresville,” said N.C. Senator Vickie Sawyer. “Many people in our community already work and support this company’s operations, and now nearly 400 more will find jobs, not to mention the thousands of other people who will benefit from the positive impact this expansion brings to our local economy.”
“North Carolina offers one of the nation’s best business climates,” said N.C. Representative Grey Mills. “We’re proud when an important, local company like BestCo sees those advantages and decides to expand in our region. We’ll do everything we can to support them as they grow and thrive in Mooresville.”