The company, started in 2012 by two entrepreneurs with experience in the e-cigarette industry, expects to double its work force by the end of the year, Weaver said.
The company currently employs 36 employs with an annual payroll of $900,000. Weaver said the company expected to add 30-60 employees by the end of the year.
“It’s quite possible. This time last year we had about six employees,” Weaver said.
The new space allows NicQuid to expand its lab from 2,000 to 10,000 feet, Weaver said.
“We produce all the liquid in a pharmaceutical lab,” he said.
NicQuid searched the region for a new facility before choosing the Miamisburg location, currently undergoing renovations, Weaver said.
NicQuid is expected to invest $365,000 in renovations in the building owned by Mehland Developers.
On Tuesday, Miamisburg City Council is scheduled to consider an ordinance reimbursing Mehland $6,000 for additional heating and air-conditioning units required by NicQuid, Chris Fine, development director in Miamisburg said in a memo to council. The reimbursement would come through a loan forgiven if the developer maintains a $900,000 annual payroll in the building.
“Their industry has grown significantly in the last 4-5 years and the company expects to see high growth in both employment and revenue moving forward,” Fine said in the memo.
About the Author
