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Genentech, one of the world’s premiere biotechnology companies headquartered in South San Francisco, California, announced it will build a new manufacturing plant in the town of Holly Springs, N.C.
“Our new facility near Raleigh, North Carolina, an established biopharmaceutical talent hub, will serve as an important new setting within our manufacturing network to help deliver on the promise of our company’s life-changing science and industry-leading pipeline,” said Genentech CEO, Ashley Magargee. “We are thrilled to establish this relationship with the town of Holly Springs, where we expect to have a positive impact on the local economy and community, as we have across the United States since we pioneered the biotech industry nearly 50 years ago.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, the North Carolina Biotechnology Center, N.C. State University, Duke Energy, Enbridge Gas North Carolina, Capital Area Workforce Development, Wake Tech, the Town of Holly Springs, Wake County, and Wake County Economic Development, a program of the Greater Raleigh Chamber.
North Carolina: One of the Fastest-Growing States in Life Sciences
“As you know, Genentech is of course no ordinary life sciences company, having started the entire global biotechnology industrial revolution back in 1976,” said William Bullock, senior vice president of economic and statewide development at the North Carolina Biotechnology Center. “A mere 8 years later, North Carolina created the North Carolina Biotechnology Center. We are now in our 41st year of working with allies across the state and North Carolina is one of the fastest growing life sciences states, as evidenced by over $20 billion of investment and over 15,000 new jobs, all announced since 2020.”
Although wages will vary depending on the position, the average annual salary for the new positions will be $119,833, compared with an average current annual wage in Wake County of $76,643. The new positions will bring an annual payroll impact of more than $50 million.
N.C. Job Development Investment Grant Played Role in Site Selection
Genentech’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $3 billion. The project will add more than 400 high-wage manufacturing jobs when the site is operational and more than 1,500 construction jobs during site development. According to the company, this initial investment could expand in the future based on business needs and the U.S. policy environment.
About Genentech
Founded more than 40 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit the Genetech website.
About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit the Roche website.
About the Economic Development Partnership of North Carolina
The Economic Development Partnership of North Carolina (EDPNC) is a private nonprofit corporation that serves as North Carolina’s statewide economic development organization. Governed by an 18-member board of business and industry leaders from across the state, the EDPNC focuses on business and job recruitment, existing industry support, international trade, tourism and film marketing. The EDPNC, which operates under contract with the North Carolina Department of Commerce, works closely with public- and private-sector partners at the state, regional and local levels.