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Area Development - Site Selection, Facility Planning and Workforce Development

Amgen Expands Holly Springs, North Carolina, Manufacturing Operations

12/17/2024
Biotechnology company Amgen Inc. plans to expand its operations in Holly Springs, North Carolina. The $1 billion project is expected to create 370 jobs in Wake County.

The investment includes a second drug substance manufacturing facility on the company’s existing campus.

"We are very excited to expand our presence in Holly Springs and thankful for the partnerships with the State of North Carolina, Wake County, the Town of Holly Springs, and our community of employees" said Paul Lewus, Amgen North Carolina site head. "Their collective dedication and commitment have made North Carolina a hub for life sciences, and we are thrilled to contribute to the State’s continued growth."

The project is being 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, economists in the Department of Commerce estimate the project will grow the state’s economy by $3.59 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, and a capital investment of $1.01 billion, the JDIG agreement authorizes the potential reimbursement to the company of up to $4,893,750, spread over 12 years.

“I spent much of my career in the life science industry, and helping North Carolina strengthen its leadership in this industry has personally been very rewarding,” noted North Carolina Commerce Secretary Machelle Baker Sanders. “The key to our success has been our continued focus on building the skilled and diverse workforce that companies like Amgen depend on every day.”

The project's projected return on investment of public dollars is 205 percent, meaning for every dollar of potential cost, the state receives $3.05 in state revenue. 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.

“We are thrilled that Amgen has doubled down on its commitment to Wake County,” added Michael Haley, Executive Director of Wake County Economic Development and Senior Vice President of the Greater Raleigh Chamber. “Our community’s strength lies in our ability to work together to create an environment where companies, and the people they employ, can thrive and prosper.”

Amgen’s JDIG agreement could also move as much as $1,631,250 into a fund that helps rural communities across the state attract business in the future, state officials estimate. 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.

“They look into the safety of our community. They look into the quality of life. They need to have a diversified housing market, everything that Holly Springs can offer, and it’s unmatched with any other community. And that’s why Holly Springs rises to the top,” said Irena Krstanovic, the town’s economic development director.

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC) on the project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, the North Carolina Department of Environmental Quality, N.C. Commerce’s Division of Workforce Solutions, North Carolina State University, Wake Tech, Capital Area Workforce Development, the Town of Holly Springs, Wake County, and Wake County Economic Development, a program of the Raleigh Chamber.

Amgen is one of 30 companies comprising the Dow Jones Industrial Average, and part of the Nasdaq-100 Index. The company’s portfolio of medicines treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases.

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