NC: Adhezion Biomedical to Invest $3.5M, Create 40 Jobs in Caldwell County
31 May, 2017
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, Governor 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,” Governor Cooper said. “Adhezion’s decision to expand in Caldwell County underscores that North Carolina is a world leader in biomanufacturing.”
Adhezion Biomedical, LLC 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.
“More than 60,000 North Carolinians work directly in the biotechnology industry,” said North Carolina Commerce Secretary Anthony M. Copeland. “From our ongoing industry training programs to the state’s overall quality of life, North Carolina provides unmatched support for the biotech workforce.” N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s investment decision.
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 state’s Department of Commerce in making this grant available to our company,” said Pete Molinaro, Adhezion’s CEO and Chairman. “We expect to use these funds to allow us to grow our presence in Hudson, N.C. 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, N.C. 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.
“Adhezion and its employees are making a real difference in people’s lives,” said N.C. Senator Deanna Ballard. “We’re proud of the research and innovation that will be supported by this new expansion in our region.”
"I'm excited about Adhezion's decision to expand its facility in Hudson," said N.C. Representative Destin Hall. "This is another example of what a great place Caldwell County is to do business."
In addition to North Carolina Commerce and the Economic Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Blue Ridge Energy, Caldwell County, and the Caldwell County Economic Development Commission.