Swiss-Based Syngenta Invests $94 Million To Expand Its Durham County, North Carolina, Facility
Area Development Online News Desk (07/30/2013)
Swiss-based Syngenta, an agribusiness companies company, will invest $94 million to expand its crop protection and seed development operations in Durham County, North Carolina, with plans to create 150 jobs by the end of 2018.
Syngenta, which currently employs 1,130 people in North Carolina, is expanding its Durham operations to include a new laboratory and office facilities as part of its RTP Innovation Center.
“This is an extraordinary time of growth for agriculture in North Carolina. We thank all of the economic development partners from the state of North Carolina who worked so hard to help us attract this investment here. Governor McCrory and his staff and the Department of Commerce share our vision of creating an even stronger agricultural industry in North Carolina,” said Michiel van Lookeren Campagne, president of Syngenta Biotechnology, Inc. “We are proud to be a part of the region’s growing agricultural technology cluster.”
“North Carolina has its roots in agriculture and we’ve become one of the top states for hi-tech agribusiness research and production,” said Gov. Pat McCrory. “The growth of Syngenta is an example to others of the strong talent pool and attractive quality of life that characterizes the Research Triangle.”
“We are committed to creating new jobs in North Carolina, especially with our existing corporate partners like Syngenta,” said Sharon Decker, North Carolina Secretary of Commerce. “We applaud the management team and their commitment to re-invest in North Carolina and expand their global footprint with us.”
The project was made possible in part by an award to Syngenta from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, Syngenta is eligible to receive up to twelve annual grants equal to 51 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over twelve years, the JDIG award could yield aggregate benefits to Syngenta of up to $2.98 million.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, N.C. Department of Transportation, Durham County, Durham Chamber of Commerce, the N.C. Biotechnology Center, and Duke Energy Progress.