Adhezion Biomedical a research and manufacturing company offering medical adhesive products, will create 40 jobs over the next four years as it expands its facility in Caldwell County. The company plans to invest $3.5 million in Hudson over this period of time.
“We are delighted to be able to commit to making Hudson, N.C. our home for the company’s research and development, manufacturing and distribution activities,” said Pete Molinaro, Adhezion’s chief executive officer and chairman.
Adhezion Biomedical, headquartered in Wyomissing, Pennsylvania, is a privately held medical device company founded in 2001 and focused on the development, manufacturing and commercialization of cyanoacrylate-based surgical, wound management and infection prevention technologies. Cyanoacrylates are a family of strong fast-acting adhesives with medical, industrial and household uses.
“Biotech is thriving here in North Carolina, contributing $86 billion to our economy each year,” North Carolina Gov. Roy Cooper said. “Adhezion’s decision to expand in Caldwell County underscores that North Carolina is a world leader in biomanufacturing.”
“More than 60,000 North Carolinians work directly in the biotechnology industry,” said North Carolina Commerce Secretary Anthony M. Copeland. “From our ongoing industry training programs to the state’s overall quality of life, North Carolina provides unmatched support for the biotech workforce.” Commerce and the Economic Development Partnership of North Carolina were instrumental in supporting the company’s investment decision.
The new positions in Caldwell County will provide an annual payroll impact of more than $1.3 million to the local economy.
A performance-based grant of $100,000 from the One North Carolina Fund will help support Adhezion’s expansion in Caldwell County. The fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching grant from local governments and any award.
In addition to Commerce and the EDPNC, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Blue Ridge Energy, Caldwell County, and the Caldwell County Economic Development Commission.