Aurobindo Pharma USA, Inc. To Establish National Headquarters In Durham, North Carolina
Aurobindo Pharma USA will establish a new R&D and manufacturing center in Durham. The company currently employs 14 scientists/workers in Raleigh. Among the new employees will be researchers, analytical chemists, production operators, quality control specialists and others.
“We are very excited about our plans for expansion of our specialty pharma R&D and manufacturing in North Carolina, and are thankful to EDPNC, Durham City, Durham County and the State of North Carolina for supporting our decision. North Carolina has one of the best talent pools in the specialty pharma R&D and manufacturing sectors, and we look forward to establishing a large and successful footprint here,” said Dr. Ninad Deshpanday, President, R&D, Aurobindo Pharma USA, Inc.
“We welcome the decision by Aurobindo Pharma to undertake this significant expansion in the Research Triangle,” said Governor Pat McCrory. “Our state is eager to partner with this global company as it embarks on its business objectives and grows its presence in North Carolina’s life sciences community.”
A unit of Aurobindo Pharma Limited, headquartered in Hyderabad, India, Aurobindo Pharma USA is a leading maker of semi-synthetic penicillins and offers therapeutics for neurosciences, cardiovascular, anti-retrovirals, anti-diabetics and gastroenterology. In 2015, Forbes Asia named Aurobindo Pharma to its “Fabulous 50” list. The company employs a worldwide workforce of 15,500.
The company’s North Carolina expansion will be facilitated, in part, by an award to the company from the state’s Job Development Investment Grant (JDIG) program, which was approved earlier today by the state’s Economic Investment Committee. Under the terms of the company’s JDIG, Aurobindo Pharma USA is eligible to receive up to $3.8 million in total reimbursements. Payments will occur in annual installments over 12 years pending verification by NC Commerce and NC Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies a portion of the newly created tax-base with the goal of increasing the overall tax benefit to the State of North Carolina. This JDIG is contingent upon the approval of an appropriate match by local governments or organizations.
By law, JDIG-supported projects must result in a net revenue inflow to the state treasury over the life of the award. For projects in Tier 3 counties such as Durham County, 25 percent of the award amount is directed to the state’s Industrial Development Fund – Utility Account to help finance economic infrastructure in less populated Tier 1 and Tier 2 counties. Aurobindo Pharma USA’s North Carolina expansion could provide as much as $1.2 million in new funds for the Utility Account.
Joining NC Commerce and EDPNC in helping facilitate Aurobindo Pharma USA’s expansion is the North Carolina General Assembly, the North Carolina Community College System, Durham Technical Community College, Durham County, the City of Durham, the Greater Durham Chamber of Commerce and NC Biotechnology Center.
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