- Florida-based pharmaceutical manufacturer to invest nearly $44 million, create 524 new jobs in Tennessee
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Formulated Solutions Cleveland, LLC officials announced today 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, Florida, 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. 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.
QUOTES
“Tennessee’s skilled workforce, thriving economy and central location make our state the ideal location for companies to succeed. I thank Formulated Solutions for its significant investment and job creation for Tennesseans across Bradley County.” – Gov. Bill Lee
“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.” – TNECD Commissioner Stuart McWhorter
“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. 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.” – Victor Swint, president and CEO, Formulated Solutions Cleveland, LLC
“We are always thankful for the opportunity to welcome new companies to the City of Cleveland and Bradley County. We are especially excited and thankful to have Formulated Solutions choose to join our family of manufacturers because they will be continuing the tradition of consumer health products manufacturing that extends back to 1978 in our community. The 450,000-square-foot facility on Michigan Avenue, when coupled with a skilled existing workforce and a community committed to manufacturing, will ensure success for the company and our citizens for many years to come.” – Cleveland Mayor Kevin Brooks and Bradley County Mayor D. Gary Davis
“TVA and Cleveland Utilities congratulate Formulated Solutions, LLC on its decision to establish operations in Cleveland and create hundreds of new job opportunities. Helping to attract jobs and investment to the region is fundamental to TVA’s mission of service. We are proud to partner with the City of Cleveland, Bradley County, the Cleveland-Bradley County Chamber of Commerce and the Tennessee Department of Economic and Community Development to further that mission and celebrate this announcement together.” – John Bradley, TVA senior vice president of Economic Development
“I am very pleased to see these jobs coming to Bradley County, which is a great location for new and expanding businesses. I congratulate Formulated Solutions as well as our local officials, Governor Lee, Commissioner McWhorter and all who helped secure these jobs. I look forward to continuing to partner with them in our efforts to bring new and better paying jobs to our community.” – Sen. Adam Lowe (R-Calhoun)
“Companies continue to invest in Tennessee because of the remarkable success they can have here. Not only will Formulated Solutions bring new life to the Beiersdorf facility, but I am thankful that existing employees will be retained as well. I congratulate the company on this exciting announcement, and look forward to its bright future in Bradley County.” – Rep. Kevin Raper (R-Cleveland)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTubechannel.
TNECD Media Contact
Jennifer McEachern
Director of Communications and Marketing
[email protected]
(615) 336-2689
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