Ei Inc., a developer and manufacturer of topical pharmaceutical and skin care products, will invest $13.2 million to expand its operations in Rowan County, Kannapolis, North Carolina, creating 119 jobs.
Ei is a product development and manufacturing solutions provider of prescription, over-the-counter, animal health and therapeutic skin care products. The company currently employs more than 200 people in North Carolina.
Ei will partner with KeraNetics to commercialize research and patents developed at the Wake Forest University Institute for Regenerative Medicine. "We are excited about the opportunity to be a critical part of KeraNetics' commercialization plan for its unique keratin protein pharmaceutical products, which will enable our businesses to grow and create jobs in the State of North Carolina," Mike Kane, CEO at Ei Inc. said. "We believe that the City of Kannapolis is an excellent location to develop and manufacture products that will significantly improve lives. Ei is very appreciative of the economic development support of Governor Perdue, Department of Commerce Secretary Crisco and NC Representative Fred Steen, who were instrumental in helping us to compete for this project in North Carolina."
"North Carolina is known worldwide as a center for cutting-edge pharmaceutical and bioscience companies," Gov. Bev Perdue said. "Our state's top-notch workforce and job training programs create a business climate where businesses can thrive in a global marketplace."
State Economic Development officials said the project was made possible in part by a $500,000 grant from the One North Carolina Fund. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs. 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.