Exela Pharma Sciences, a pharmaceutical manufacturer, plans to invest $8.5 million to expand its facility in Caldwell County, Lenoir, North Carolina, creating about 38 jobs.
Exela Pharma Sciences develops and manufactures injectable and ophthalmic pharmaceutical products. The company currently employs more than 40 at its Lenoir facility.
“Exela is pleased to be in a position to pursue its expansion plans and create these high paying jobs in Caldwell County,” said Phanesh Koneru, Exela’s president and CEO. “Exela is thankful to the officials of the City of Lenoir, Caldwell County, and the State of North Carolina for their continued support of Exela’s business.”
According to Gov. Bev Perdue the project was made possible in part by an $189,000 grant from the One North Carolina Fund. “North Carolina has a proud and celebrated history in manufacturing,” said Gov. Perdue. “North Carolina’s biotech industry is thriving because of our highly-skilled workforce and strong business climate.”
The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.