Invitae Corporation, a leading medical genetics company, plans to open a new laboratory and production facility in Wake County, North Carolina. The project is expected to create 350 jobs.
Once fully operational, the 250,000 square foot laboratory and production facility will significantly expand Invitae's testing capacity, meeting and exceeding the capacity currently housed in the company's San Francisco facility.
"As we continue to expand to support our rapid growth worldwide, we were eager to identify a location on the East Coast that would improve our ability to serve our customers, improve our operational leverage, and build a talented team with connections to a vibrant life sciences community. We have found the ideal location in North Carolina," said Ken Knight, COO of Invitae. "Our mission is to make genetic information affordable and accessible for billions of people. Our new location near the Research Triangle Park will help us bring that mission to reality."
Invitae’s project in North Carolina will be facilitated by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $1.07 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $6,767,250, spread over 12 years. Over those 12 years, new state tax revenues generated by the new jobs will exceed $20 million.
Invitae’s JDIG agreement could also move as much as $2,255,750 into a fund that helps rural communities across the state attract business in the future. When companies select a site located in a Tier 3 county such as Wake, their JDIG agreements move some of the new tax revenue into the state’s Industrial Development Fund – Utility Account. Local communities in more economically challenged areas of the state use grants from the Utility Account to build public infrastructure projects, which can improve a community’s ability to attract companies to their regions.
"Biotechnology companies continue to choose North Carolina as a trusted and reliable location to grow their companies," said Governor Ray Cooper. "From specialized workforce training programs to a world-class research infrastructure, companies like Invitae appreciate the advantages our state delivers."
Invitae Corporation is a leading medical genetics company whose mission is to bring comprehensive genetic information into mainstream medicine. The company has more than 2,100 employees globally and currently has laboratory production facilities in California, Colorado and Washington.
“North Carolina made a commitment many years ago to build a vibrant life science industry in our state,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Today, we’re seeing that vision and early hard work pay off as companies like Invitae bring new jobs and new investment to our state.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of N.C. on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, Research Triangle Foundation, North Carolina Central University, North Carolina State University, Wake Tech, the Capital Area Workforce Development Board, the Town of Morrisville, Wake County, the Morrisville Chamber of Commerce, and Wake County Economic Development and Triangle Diversity Equity and Inclusion Alliance, programs of the Raleigh Chamber.