7/13/2016 – Exela Pharma Sciences planning another expansion

Posted on: July 13th, 2016 by admin

–PARTEND–

July 13, 2016

–PARTEND–

A Lenoir pharmaceutical maker that has more than quadrupled its size since early 2013 is planning a new expansion that could add up to 50 new jobs over two years.

 

Exela Pharma Sciences, which makes injectable and ophthalmic pharmaceutical products, will lease the former Expo building off Nuway Circle from Blue Ridge Electric Membership Corp. and plans to expand it manufacturing of sterile syringes and infusion bags for hospitals, according to information from the Caldwell County Economic Development Commission. The new jobs would pay wages averaging more than $50,000 per year.

 

The company plans to invest $5 million and has applied for a state grant to help pay for renovating the building, which is about 86,400 square feet.

 

The Caldwell County Board of Commissioners will have a public hearing on providing a local job-creation incentive of $2,000 for each new job created by the expansion. The incentives would not be paid until after the new jobs are filled, documented, and maintained.

 

Exela, which is based in the former Broyhill Furniture Industries headquarters along U.S. 321, had 16 employees when it opened in Lenoir in 2008, about 40 employees at the start of 2013, 109 in August 2014, about 160 last summer, and about 180 currently.

 

In addition to its headquarters, Exela has operations in a building on William White Place, a short distance from Nuway Circle and the Expo building, and in a former warehouse on Morganton Boulevard.

 

By Guy Lucas, (Lenoir) News-Topic

 

 

©2011-2014 Economic Development Commission of Caldwell County • Site Mapinfo@caldwelledc.orgWebsite by Market Force