BestCo, a tablet manufacturer and other health care products based in Mooresville, announced Wednesday the creation of 141 new jobs as part of a $ 47.5 million expansion of its manufacturing center in the county of Iredd.
Wages for new jobs will vary by position, but average will be $ 48,308, higher than the average of $ 47,345 in Iredell County, according to a press release from the UK Governor's Office, Roy Cooper .
BestCo receives $ 150,000 grant from the state in exchange for the project, the statement said.
The grant program, One North Carolina Fund, requires a counterpart grant from local governments, the release said, which has not revealed any additional details.
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BestCo President Tim Condron told the Observer that the expansion will, among other things, enable the company to meet demand that exceeds current capacity. The company already employs more than 450 people in Iredell County, he said.
He did not reveal any revenue for the private company, but he said the goal was to double that figure over the next five years.
BestCo began operations in 1976 as a confectioner, Beacon Sweets, in Newark, NJ, the statement said. He changed his name to BestCo in 2013, according to his website.
Now, the company is developing consumer health products, including over-the-counter medications and dietary supplements.
It also provides manufacturing, packaging, marketing, product development and testing services to customers, including Fortune 100 companies.
In a statement, Condron congratulated North Carolina for valuing and investing in "fast growing companies".
"We have been working in the community and creating jobs for over 30 years. This is the beginning of an exciting new 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 took place in 2015, when the company added about 100 square feet to its operation and 50 jobs, he said.