Open Main Project where you would like to add static library.
Save as workspace.
Add library's project package. No need to check copy while adding project package.
Update Xcode preferences location to Custom-Relative to Workspace. Products as 'Build/Products' and Intermediates as Build/Intermediates
In your Main project -> target -> build settings, Add Header and Library Search Path as $(BUILD_PRODUCTS_DIR)
Build Library Project. So a new library will be created in mentioned build path.
Remove existing library from Build Phases and move to trash. Open Build Phases -> Link Binary With Libraries and add newly created library from build directory.