More than 140 jobs coming to Charlotte area as company plans $47 million expansion
BestCo, a Mooresville-based maker of lozenges and other healthcare products, announced on Wednesday that it is creating 141 new jobs in a $47.5 million expansion of its manufacturing center in Iredell County.
Salaries for the new jobs will vary by position but average $48,308, higher than Iredell County’s average of $47,345, according to a press release from N.C. Gov. Roy Cooper’s office.
BestCo is being given a cash grant of $150,000 from the state in exchange for the project, the release says.
The grant program, One North Carolina Fund, requires a matching grant from local governments, according to the release, which did not disclose additional details.
BestCo President Tim Condron told the Observer that the expansion will allow the company to, among other things, meet demand that is outstripping current capacity. The company already employs more than 450 in Iredell County, he said.
He did not disclose revenue for the privately held company, but he said the goal is to double the figure over the next five years.
BestCo began in 1976 as a confectioner, Beacon Sweets, in Newark, N.J., the release said. It changed its name to BestCo in 2013, according to its website.
Now the company develops consumer healthcare products, including over-the-counter drugs and dietary supplements.
It also provides product manufacturing, packaging, marketing and development and testing services to clients, including Fortune 100 companies.
In a statement, Condron praised North Carolina for valuing and investing 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,” he said.
Mooresville is in Iredell County, about 30 miles north of Charlotte.
Condron said the company has been in Mooresville since 1988. Wednesday’s expansion will be the company’s fourth in Mooresville, he said.
The last one was in 2015, when the company added 50 jobs, he said.
This story was originally published February 20, 2019 at 4:18 PM.
