Asheville, NC — Avadim Technologies Inc. is planning an expansion that will create 551 new jobs and $25,400,000 in capital investment in Buncombe County over the next five years.
The company will also build a new corporate headquarters in Black Mountain Commerce Park, the company announced Wednesday, in conjunction with the Buncombe County Commission and the Economic Development Coalition for Asheville-Buncombe County.
Addressing gaps in global health such as infection, neuromuscular disorders, and wound care, Avadim is a Buncombe County-based life sciences company that launched in 2007.
It placed No. 234 on the Inc. 500 elite list of America’s fastest growing companies in 2016 with a 1,675 percent increase in revenue over three years.
The 551 jobs represent the single-largest job creation announcement in Buncombe County’s known history. Currently employing about 100 people, Avadim will become one of the metro area’s largest employers when its expansion is completed in 2020.
Avadim’s new corporate headquarters will include office space, research and development, manufacturing and distribution. The expansion will enable increased production and sales of the company’s innovative topical therapy products, including Theraworx and [pH]UEL 5.0.
Theraworx is clinically proven to help control hospital-acquired infections while restoring the skin’s natural defenses. Avadim has garnered international attention for its patented Theraworx product, which is utilized in medical facilities run by the Veteran’s Administration and Department of Defense.
[pH]uel 5.0 is used by professional athletes and the U.S. men’s and women’s soccer team to optimize muscle health, and it supports therapeutic recovery for tightness, cramping and decreased range of motion.
Avadim will invest $25,400,000 in its new facility to be built in the Black Mountain Commerce Park near I-40. The company’s expansion aligns with the EDC’s AVL 5×5: Vision 2020 plan to attract high-growth employers in life sciences, technology and advanced manufacturing. Avadim’s new headquarters in Black Mountain Commerce Park will catalyze access and utility improvements to serve future employers in eastern Buncombe County.
“As a lifelong resident of Buncombe County, it was important to me that our business expansion happen right at home,” Avadim Chairman and CEO Stephen Woody said in a news release. “Avadim will not only contribute to the health and well-being of individuals by addressing gaps in global health, including infection, neuromuscular disorders and wound care, but also this expansion will contribute to our economy by continuing to cultivate a vibrant life sciences sector and spur jobs in Western North Carolina.”
“This expansion highlights the extraordinary entrepreneurial talent in our community. Company founder Steve Woody is a champion of WNC and as a business leader has always created high quality jobs in his hometown,” said David Gantt, chairman of the Buncombe County Board of Commissioners. “Today we celebrate the creation of a world-class headquarters building, hundreds of excellent careers for our citizens, and the first tenant in Black Mountain Commerce Park. This is a great day in Buncombe County.”
Learn more about Avadim at www.avadimtechnologies.com. For more information about the Economic Development Coalition for Asheville-Buncombe County, visit www.ashevillechamber.org/economic-development.