Invitae Corporation Plans Wake County, North Carolina, Production and Laboratory Campus
04/21/2021
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.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
How to Overcome NIMBYism in Data Centers
Q2 2024