Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

FUJIFILM Diosynth Biotechnologies Expands Holly Springs, North Carolina, Operations

04/15/2024
FUJIFILM Diosynth Biotechnologies North Carolina, Inc., a contract development and manufacturing organization, plans to expand its biopharmaceutical manufacturing operation in Holly Springs, North Carolina. The $1.2 billion project is expected to create 680 jobs in Wake County.

The investment will include additional large-scale monoclonal antibody Drug Substance manufacturing capacity that will support the company’s growing biologics CDMO business, two additional drug substance manufacturing buildings, a shared headblock building with administrative space, as well as expansions of utilities, lab, and warehouse buildings currently under construction.

“At FUJIFILM Diosynth Biotechnologies, we are committed to supporting a healthier society by providing state-of-the-art manufacturing expertise and capabilities which enable our partners to bring life-impacting medicines to patients in the United States and worldwide,” said Lars Petersen, president and chief executive officer, FUJIFILM Diosynth Biotechnologies. “On behalf of our company and its employees, we are extremely grateful to Governor Cooper, elected officials, economic and workforce development partners, Wake County, the Town of Holly Springs, the residents of North Carolina, and our life science industry partners for embracing FUJIFILM Diosynth Biotechnologies as we expand our manufacturing network in the US and Europe with this North Carolina facility and collectively build a vibrant life sciences ecosystem in the state.”

The project will be supported, 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 $4.7 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 $14,989,500, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

The project’s projected return on investment of public dollars is 298 percent, meaning for every dollar of potential cost to the state, the state receives $3.98 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

“North Carolina is known worldwide as a biotechnology hub thanks to the continued investment from companies like FUJIFILM Diosynth,” noted Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC). “Our robust infrastructure, top-notch engineering talent in the state, and partnerships with entities like NC State University and the North Carolina Biotechnology Center provide support for innovative companies like FUJIFILM to continue to grow.”

FUJIFILM Diosynth Biotechnologies’ JDIG agreement could also move as much as $4,996,500 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.

“Fujifilm’s investment will provide critical capacity to manufacture innovative therapies. As an integral member of North Carolina’s life sciences community, we are fully committed to supporting their continued success and growth in the state,” added Laura Rowley, Ph.D., Vice President of Life Sciences Economic Development for the North Carolina Biotechnology Center. “While the strength of North Carolina’s biomanufacturing training infrastructure is unparalleled, collaborative efforts including the Accelerate NC: Life Sciences Manufacturing Coalition are underway to increase awareness and ensure NC remains the leading location for biomanufacturing.”

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 Department of Environmental Quality, the North Carolina Department of Transportation, the North Carolina Community College System, Wake Technical Community College, the North Carolina Biotechnology Center, North Carolina State University, the North Carolina Japan Center, Dominion Energy, Duke Energy, the Capital Area Workforce Development Board, the Wake County Board of Commissioners, the Town of Holly Springs, and Wake County Economic Development, a program of the Raleigh Chamber.

“Projects like this are truly transformative for our community, with long-term economic benefits,” said Michael Haley, Executive Director of Wake County Economic Development. “FUJIFILM Diosynth Biotechnologies continues to invest in Wake County due to the strong network of partners that make up our ecosystem. This announcement is the result of dedicated work across a variety of organizations to propel our community forward.”

Exclusive Research