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Originally published: 2013-01-04 11:24:31
Last modified: 2013-01-04 11:24:31

Pharmaceutical manufacturer to create 38 jobs in Caldwell County

by Staff Reports

Gov. Bev Perdue on Thursday announced that Exela Pharma Sciences, a pharmaceutical manufacturer, will expand its facility in Caldwell County. The company plans to create 38 jobs and invest $8.5 million over the next three years in Lenoir. The project was made possible in part by an $189,000 grant from the One North Carolina Fund.
 Exela Pharma Sciences is a wholly owned subsidiary of Exela PharmSci Inc. Exela develops and manufactures injectable and ophthalmic pharmaceutical products. The company currently employs more than 40 at its Lenoir facility.

Salaries will vary by job function, but the average annual wages for the new jobs will be $47,395, plus benefits. The Caldwell County average annual wage is $29,640.

"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."

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.