NC: BestCo Investing $47.5M in Mooresville, Bringing 141 Jobs
29 Mar, 2019
BestCo, a manufacturer of lozenges, dietary supplements and other over-the counter health care products, plans to invest $47.5 million in an expansion of its facility in Mooresville, North Carolina, creating 141 new jobs in Iredell County.
The Mooresville-based company’s 56,000-square-foot addition to its 200,000-square-foot plant will accommodate production machinery and workspace for employees. “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, company president and chief operating officer.
Salaries for the new jobs will vary by position but average $48,308, higher than Iredell County’s average of $47,345.
BestCo, founded in 1976 as the confectioner Beacon Sweets in Newark, New Jersey, is now a leading developer and manufacturer of flavored over-the-counter drug products and dietary supplements. BestCo’s product lines include cough and cold lozenges, chewable antacids, and vitamin and mineral supplements in lozenge and chew form. The company offers product development and testing, manufacturing, packaging and marketing services to private label and contract manufacturing clients in the consumer health care and retail industries, including companies in the Fortune 100.
“BestCo began as a candy company and used that knowledge of customer tastes to make medicines and supplements more appealing,” said state Secretary of Commerce Anthony M. Copeland.
The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina were instrumental in supporting the company’s expansion decision.
A performance-based grant of $150,000 from the One North Carolina Fund will help support BestCo LLC’s expansion of its existing facility in North Carolina. The state 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 One NC grants require a matching grant from local governments.
“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 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.”