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Area Development - Site Selection, Facility Planning and Workforce Development

Incyte Expands Wilmington, Delaware, Headquarters Operations

05/28/2024
Biopharmaceutical company Incyte plans to expand its headquarters operations in Wilmington, Delaware. The project is expected to create up to 500 jobs over the coming years.

The investment includes the purchase and renovation of the Bracebridge I and Bracebridge III buildings at King and French streets in downtown.

“Delaware has been our home for more than 20 years, and we are looking forward to expanding our operations in Wilmington and continuing to grow our company here,” said Incyte Chief Executive Officer Hervé Hoppenot. “We are grateful to the continued support of the state, the city and others, including DPP, who have supported our company and fostered innovation and growth in our region.”

Delaware Prosperity Partnership (DPP) supported the company’s request to the Council on Development Finance for a Jobs Performance Grant of up to $9,177,075 and a Graduated Lab Space Grant of up to $5,670,000 from the Delaware Strategic Fund. Distribution of these grants is dependent upon the company meeting commitments as outlined to the CDF, which reviewed and approved Incyte’s request for up to $14,787,075 million in total funding.

“Incyte’s decision to move their headquarters to downtown Wilmington is not only a big deal for the city – it’s a big deal for our state,” noted Governor John Carney. “Incyte is a Delaware success story. Incyte grew out of its space at the DuPont Experimental Station and moved hundreds of employees into a renovated headquarters at Augustine Cut Off. Not only does this announcement mean more great jobs in our state – but it means that there is more opportunity for Incyte to keep doing good in our community and across the world. Incyte’s research makes a huge difference in peoples’ lives. We couldn’t be prouder to call them a Delaware-grown company and we’re excited about their next chapter. I want to thank Incyte’s leadership for their commitment to Delaware.”

Incyte Corporation currently develops and manufacturers prescription biopharmaceutical medications in multiple therapeutic areas including oncology, inflammation, and autoimmunity. The company was created through the merger of Incyte Pharmaceuticals and Incyte Genomics, Inc. of Delaware.

“Incyte has been an innovative pillar of the Delaware business community since it was founded here in 2002, and Delaware Prosperity Partnership is pleased to support the company’s expansion into downtown Wilmington,” added Rod Ward, co-chair of DPP’s Board of Directors. “New jobs and capital investment of this project’s magnitude will provide a tremendous boost for the city and create opportunities that will benefit many Delaware families along with the community at large.”

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