5/26/2017 – Adhezion Biomedical receives state grant for $3.5M expansion, 40 jobs in Hudson

Posted on: May 26th, 2017 by admin

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May 26, 2017

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Adhezion Biomedical, LLC, a research and manufacturing company offering medical adhesive products, will create 40 jobs over the next four years as it expands its facility in Caldwell County, Gov. Roy Cooper announced. The company plans to invest $3.5 million in Hudson over this period of time.

 

“Biotech is thriving here in North Carolina, contributing $86 billion to our economy each year,” Gov. Cooper said. “Adhezion’s decision to expand in Caldwell County underscores that North Carolina is a world leader in biomanufacturing.”

 

Adhezion Biomedical is a privately‐held medical device company focused on the development, manufacturing and commercialization of cyanoacrylate-based surgical, wound management and infection prevention technologies. Founded in 2001, the company maintains its corporate headquarters in Wyomissing, Pennsylvania.

 

The new positions in Caldwell County will provide an annual payroll impact of more than $1.3 million to the local economy.

 

“We very much appreciate the support of the N.C. Department of Commerce in making this grant available to our company,” Adhezion CEO Pete Molinaro said. “We expect to use these funds to allow us to grow our presence in Hudson by expanding our facility, its processes, capacity and workforce, as well as offering opportunities to our current employees. Furthermore, we are delighted to be able to commit to making Hudson, our home for the company’s research development, manufacturing and distribution activities.”

 

A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate Adhezion’s expansion in Caldwell County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.

 

Caldwell County Economic Development Commission Executive Director Deborah Murray said the grant will further efforts to continue to grow and diversify the local economy.

 

“We are truly excited about what this announcement will mean not only for Adhezion Biomedical, but also for Caldwell County,” Murray said. “We continue to see strong development within our biomedical cluster, and we are very pleased to know that Adhezion Biomedical intends to further its growth as a company in Caldwell County.

 

“When we were working on this project, we referred to it as Project Decade because of the impact it would have for the company over the next 10 years and beyond. And with this grant in place, we fully believe that Adhezion Biomedical will continue to be at the forefront of some very important surgical adhesives and wound care advances.”

 

Murray noted that Blue Ridge Energy played a key role in assisting Adhezion Biomedical with its expansion plans.

 

N.C. Sen. Deanna Ballard said, “Adhezion and its employees are making a real difference in people’s lives. We’re proud of the research and innovation that will be supported by this new expansion in our region.”

 

Added N.C. Rep. Destin Hall, “I’m excited about Adhezion’s decision to expand its facility in Hudson. This is another example of what a great place Caldwell County is to do business.”

 

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