Company plans to invest $ 550 million in Holly Springs, NC
Pioneering biotech company Amgen Inc. will build a new biologics manufacturing plant in Holly Springs, North Carolina, creating 355 jobs, Governor Roy Cooper announced on August 3, 2021. The company intends to ‘invest $ 550 million in Wake County.
“World-class companies like Amgen are very selective when evaluating commercial locations and they choose only the locations that offer the best support for their operations,” Governor Cooper said. “Today’s decision proves once again that North Carolina remains a prime location for the industry’s most innovative biotech companies.
Founded in 1980 in Thousand Oaks, California, Amgen today serves millions of patients around the world with serious illnesses such as cancer and heart disease. Amgen is one of 30 companies that make up the Dow Jones Industrial Average, with more than 24,000 employees worldwide, including more than 14,000 in the United States. The company’s new site in the Research Triangle, North Carolina area will bring a biologic drug manufacturing facility online to help the company continue to meet production demands for its life-saving drugs.
“Amgen is investing in a state-of-the-art drug plant in North Carolina to support the expected increase in demand for our drugs. Together with the previously announced state-of-the-art packaging plant in Ohio, we have committed to investing nearly $ 1 billion in new manufacturing capacity in the United States, ”said Esteban Santos, vice-president. executive chairman of operations at Amgen.
“It’s exciting to see the industry in which I have spent much of my career become such a vital economic engine for our state,” said North Carolina Secretary of Commerce Machelle Baker Sanders. “As a new First in talent the strategic plan clearly states that developing and maintaining a skilled and diverse workforce will lead to increased economic growth and big decisions like choosing Amgen today.
Although specific salaries vary by position, the overall average salary for new positions is expected to reach $ 119,510, bringing $ 42.4 million in annual payroll growth to the region. The current average salary in Wake County is $ 63,966.
Amgen’s North Carolina facility will be built to rigorous environmental standards, in line with the company’s goal of achieving carbon neutrality, reducing water use by 40% and eliminating waste by 75% by 2027. The facility will also support Amgen’s participation as a founding member of OneTen, a coalition of many of the world’s largest and best-known companies that collectively aims to hire one million blacks Americans in high-paying jobs over the next ten years, with a focus on those without a four-year college degree
Amgen’s project in North Carolina will be facilitated, in part, by an Employment Development Investment Grant (JDIG) approved by the state’s economic investment committee earlier today. Over the 12-year term of this grant, economists from the Department of Commerce estimate that the project will grow the state’s economy by $ 2.5 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential repayment to the company of up to $ 11,612,250, spread over 12 years, on the basis of an investment in required capital of $ 380.5 million. During these 12 years, new state tax revenues generated by new jobs will exceed $ 63.6 million.
Government payments are only made after performance verification by the Commerce and Revenue departments that the business has met its goals of creating additional jobs and investment. JDIG projects generate positive net tax revenue for the public purse, even after taking into account grant repayment payments to a given company.
Amgen’s JDIG deal could also transfer up to $ 3,870,750 into a fund that helps rural communities across the state attract businesses in the future. When companies select a site in a Tier 3 county such as Wake, their JDIG agreements transfer a portion of the new tax revenue to the state’s Industrial Development Fund – Utilities Account. Local communities in the most economically disadvantaged areas of the state use grants from the utility account to build public infrastructure projects, which can improve a community’s ability to attract business to their areas.
“Amgen is one of the world’s leading independent biotechnology companies,” said Gale Adcock, representative of NC. “It’s great to see Holly Springs and Wake County rise to the top as one of the world’s leading bioproduction sites. “
“The hard work, dedication and commitment to make the necessary preparations in our community has paid off today,” said NC Senator Sydney Batch. “Everyone in Holly Springs and Wake County will continue to support Amgen and its new employees as the company works to open its new facility in our area. “
Partnerships with the North Carolina Department of Commerce and the North Carolina Economic Development Partnership on this project were as follows:
- North Carolina General Assembly
- the North Carolina Department of Transportation
- the North Carolina community college system
- the North Carolina Biotechnology Center
- Duke Energy
- Energy of Domination
- North Carolina State University
- Central University of North Carolina
- the Capital Region Workforce Development Council
- Wake Technical Community College
- the town of Holly Springs
- Wake County
- Wake County Economic Development, a Raleigh Chamber program.
Source: Ford Porter, North Carolina Governor’s Office