Stemtech International (Stemtech), founded in 2005, is a nutrition company that sells nutritional supplements designed to boost adult stem cells. In 2007, the journal Cardiovascular Revascularization Medicine identified it as the leader in the adult stem cell nutrition industry, and by 2013 it was recognized as one of the 5,000 fastest growing private companies in the United States by Inc Magazine.
Stemtech is currently headquartered in San Clemente, California; however, it will soon relocate to Pembroke Pines, Florida, thanks to $615,000 in incentives it received from the state of Florida and the city of Pembroke Pines. As part of its relocation, the company pledged to create 90 local jobs at an average starting salary of $65,850 and to invest $1.35 million in its new headquarters and manufacturing facility.
Stemtech President and CEO, Ray C. Carter, Jr., said, “We are excited to announce this move that heralds the next step in our global growth strategy and provides us with a business friendly location to attract the very highest quality employees moving forward.”
Pembroke Pines Mayor, Frank Ortis, said, “This project exemplifies the attractiveness of our city and our commitment to support new and expanding target industry business enterprises with high value jobs and capital investment.”
Gray Swoope, President and CEO of Enterprise Florida, the official economic development organization for the state of Florida, said, “The relocation of Stemtech’s international headquarters and manufacturing lab is a great addition to Florida’s growing life science sector. Our skilled workforce and strong business climate are two necessary components for the expansion of businesses like Stemtech, and we will continue to share Florida’s business story to bring more industry leaders to the state.”
Ray Ferrero, Jr., CEO and Council Chairman of the Greater Fort Lauderdale Alliance, Broward County’s official public/private partnership for economic development , said, “We are so very pleased to have another wonderful opportunity to work with our partners at the city of Pembroke Pines and enterprise Florida on behalf of Stemtech International. The Council’s mission is to maintain and grow the presence of more than 150 corporate and international headquarter operations in the Greater Fort Lauderdale area that can take advantage of our world class quality of life, transportation access and highly rated business and personal tax climate.”
To receive email alerts when new articles authored by Armand Colson are available, click the “Subscribe Button”. Contact at email@example.com