FOR IMMEDIATE RELEASE: Oct. 29, 2010
Contact: Stacey Swank
Pinellas County Economic Development
(727) 464-7425 or sswank@pinellascounty.org
Formulated Solutions Expansion Project in Pinellas County Adds 60 New Jobs
PINELLAS COUNTY, FL (Oct. 29, 2010) - Thanks to an unparalleled redevelopment opportunity in Pinellas County, Formulated Solutions is set to expand its operations, adding 60 new high-wage pharmaceutical jobs to the area over the next few years.
Says Eric Dann, President & CEO of Formulated Solutions, "Despite a difficult economy, we've experienced tremendous success over the past four years and were able to secure the financing necessary to increase production and meet demand for our products."
With assistance from Pinellas County Economic Development, the company was able to find the perfect location for its expansion without leaving home.
Formulated Solutions is more than quadrupling its headquarters with a move from roughly 30,000 square feet to a vacated property with 140,000 square feet.
"Redevelopment opportunities like this make for terrific retention tools," explains Danielle Ruiz, Business Development Manager for Pinellas County Economic Development.
"Using our contacts throughout the county and our Real Estate Database, we were able to help Formulated Solutions find the right property for its expansion, and repurpose an existing vacant facility at the same time."
Pinellas County's unique geographic limitations combined with its highly desirable location provide the perfect setting for redevelopment efforts.
"Surrounded by water on three sides as we are, there's a finite amount of land on which to build here," says Ruiz. "Our staff keeps tabs on vacated parcels and buildings to assist businesses wanting to expand and/or relocate. By helping companies like Formulated Solutions find those redevelopment opportunities, we're able to retain business within the county, keeping and adding jobs for the community."
Eric Dann can attest: "As our customer base continued to grow, we knew we needed to expand operations. PCED's staff helped us find the ideal location - a former medical manufacturing facility - that provided the amount of space we needed. With the additional square footage, we'll be able to increase production and add more jobs, all while remaining in Pinellas County."
Serving companies in the consumer healthcare, pharmaceutical, cosmetic, and personal care markets, Formulated Solutions develops, manufacturers and packages aerosols, tubes, liquids and semi-solids, all under one roof. With its talented team of experts, the company offers customers a full-service opportunity to bring their own products all the way from idea to market.
Formulated Solutions has worked with Pinellas County Economic Development since early 2004. Previous projects include a prior expansion in 2008 that took the company from 15,000 square feet to just over 30,000, the application and receipt of state Sales Tax Exemptions, and funding through Florida's Incumbent Worker Training Program.
"There are so many ways to offset the high cost of building a business," explains Dann, "and the staff of PCED are thoroughly knowledgeable about what options are out there and which will best meet our needs at any given time. What's more, they don't just disappear when a project is complete; they continue to check in on us, continually providing guidance and explaining new opportunities as they come along."
As Mike Meidel, Director of PCED, confirms, "Our goal at PCED is to keep existing businesses thriving and to attract new companies to the county. One of the best ways to manage that task is simply by communicating; reaching out to new businesses, staying in touch with previous clients. When we know what's happening in a business's life - whether it's ready to expand, if it requires employee training, when it's considering a move - we can provide the assistance and information to make staying in Pinellas the right choice, time after time."
Clearly, that right choice has been made by Formulated Solutions and the new jobs that come with the decision to grow in Pinellas are the reward.
"We're thrilled to say we're not only keeping existing jobs here," says Dann, "but we're adding more jobs as we grow. Formulated Solutions is proud to be a member of the Pinellas community."
Learn more about Formulated Solutions at www.formulatedsolutions.com.
How can Pinellas County Economic Development help your business? Call (727) 464-7332 or visit www.pced.org to explore the options.
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