Mooresville company announces $47.5 million expansion, 141 new jobs

  

Pictured above: BestCo announces its Mooresville expansion – Picture courtesy of the Iredell County Economic Development Corporation

PRESS RELEASE

Mooresville, NC –BestCo LLC plans to invest $47.5 million and create 141 new full-time positions in Iredell County. The company intends to expand their 200,000 sf facility by adding 56,000 sf. The expansion will consist of production machinery and additional workspace for their employees.

BestCo LLC is a leading manufacturer, developer, and marketer of over-the-counter drug products and dietary supplements. BestCo LLC’s product lines include; lozenges for cough and cold, antacids in chew dosage forms, as well as vitamin and mineral supplements in lozenge and chew dosage forms.

“BestCo is honored to be considered for this grant to support our growth initiatives and investments. We are blessed to be part of a community and a state that values and invests in fast growing businesses. We have been in the community and creating jobs for over 30 years and this is the beginning of a new and exciting chapter for BestCo,” said Tim Condron President & COO.

Based upon the Iredell County and Town of Mooresville’s discretionary Economic Incentive Grant a request was made by the Iredell County Economic Development Corporation on the company’s behalf. The Town of Mooresville and Iredell County’s grant policies is a performance-based incentive program. BestCo may receive a total grant with a monetary value up to $2.1 million over a 6-year period. Companies may receive no money upfront and must meet job creation and capital investment targets to qualify for payment.

“BestCo has been a part of our community for quite some time, and they’ve been a great partner to us, so I’m glad to see them expand,” said Mooresville’s Mayor Pro Tem, Thurman Houston. “They not only bring job opportunities for our residents, but they also participate in community service projects that benefit our Town. This is a good economic development opportunity.”

“The board is pleased to stimulate new jobs and capital investment for Iredell County. Economic development is vital for our community: providing citizens with jobs as well as increasing our tax base, allowing us to sustain and improve our schools, public safety, and quality of life,” said Tommy Bowles, Iredell County Board of Commissioners.

Salaries for the new jobs will vary by position, with an average of $48,308, higher than the Iredell County average wage of $47,345.

The North Carolina Department of Commerce and Economic Development Partnership of N.C. (EDPNC) were instrumental in supporting the company’s expansion.

This press release appears as received from the Iredell County Economic Development Corporation with the exception of  page/text/space/paragraph/general formatting details.  Picture placement also excluded.  All pictures included with original release may not be shown here. Separate reports contained within the same press release may have also been removed. Additionally, the different pieces of the press release may have been re-arranged.  This press release was posted at WSICfm.com after being received from the agency listed. Article title and picture captions may, or may not be, part of the press release.  This information does, however, reflect the information received from the Iredell County Economic Development Corporation.

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