Florida-based pharmaceutical manufacturer Formulated-Solutions Cleveland announced last week it will invest nearly $44 million, create 524 new jobs in Bradley County.
Florida-based pharmaceutical manufacturer Formulated-Solutions Cleveland announced last week it will invest nearly $44 million, create 524 new jobs in Bradley County.
Florida-based pharmaceutical manufacturer Formulated Solutions Cleveland announced last week the company will invest $43.6 million to establish manufacturing operations in Southeast Tennessee.
Formulated Solutions will create 524 new jobs in Bradley County following its recent acquisition of the 455,000-square-foot former Beiersdorf facility in Cleveland. The company plans to hire 380 new staff members and extend job offers to the substantial majority of the former Beiersdorf employees.
The expansion to Tennessee will allow Formulated Solutions to better meet its growing customer demand while also broadening the company’s pharmaceutical production.
Headquartered in Largo, Fla., Formulated Solutions specializes in the development and manufacturing of aerosols and barrier pressurized packs, tubes, liquids and semi-solids, including over the counter (OTC), medical device and branded prescription drugs.
“I have been humbled by the overwhelmingly positive reception the Formulated Solutions team has received from both Bradley County and the great state of Tennessee,” said Victor Swint, president and CEO, Formulated Solutions Cleveland, LLC. “When scouting for a location to invest and expand our pharmaceutical production facilities, Cleveland, Tennessee, was a very attractive choice. With a long history of local pharmaceutical production and an abundance of well-trained, reliable workforce talent, we are excited to join the thriving local community and contribute to the area’s manufacturing legacy.”
Once operational, the Cleveland facility will serve as the company’s second commercial production site and first production location outside of Florida.
Since 2019, TNECD has supported approximately 40 economic development projects in the Southeast Tennessee region, resulting in nearly 7,300 job commitments and $3.2 billion in capital investment.
“Tennessee’s skilled workforce, thriving economy and central location make our state the ideal location for companies to succeed,” said gov. Bill Lee. “I thank Formulated Solutions for its significant investment and job creation for Tennesseans across Bradley County.”
TNECD Commissioner Stuart McWhorter added, “With top healthcare and pharmaceutical businesses in each of our grand divisions, Tennessee is primed to welcome Formulated Solutions to Cleveland. We appreciate this company’s significant investment in our state and look forward to seeing the prosperity that follows this project in Southeast Tennessee.”
