Thermo Fisher Scientific, the world leader in serving science, will invest $154 million to expand its site in Greenville, North Carolina. The project is expected to create 290 jobs.
The Greenville site provides both sterile and oral solid dose pharmaceutical manufacturing and packaging services from early development to commercial phase. This expansion announcement follows one made in December 2020, bringing 500 new jobs and approximately $500 in new investment.
“Our continued growth in capabilities and capacity at our Greenville site has enabled us to support our clients’ needs and the patients they serve,” said Michel Lagarde, executive vice president, Thermo Fisher Scientific. “This new investment will enable new innovation and development capabilities to respond to the accelerated demand for critical medicines and therapies. We also look forward to continued job creation and economic development in this region.”
The North Carolina Department of Commerce led the state’s efforts to support Thermo Fisher’s decision to expand in North Carolina. This expansion by Thermo Fisher will be facilitated, in part, by a Job Development Investment Grant (JDIG), which was approved by the state’s Economic Investment Committee. Over the course of the 12-year term of the grant, economists in the Department of Commerce estimate the project will grow the state’s economy by more than $977 million. The JDIG agreement authorizes the potential reimbursement to the company of up to $4,528,800 spread over 12 years.
Local support helped to secure this expansion including a performance-based Economic Development Grant, approved by the Pitt County Commissioners, estimated at $3.3 million over an eight-year grant period.
“Thermo Fisher's exciting announcement underscores North Carolina’s global reputation as a prime location for life sciences companies to operate,” said Governor Roy Cooper. “With our skilled workforce, strong industry collaboration and an innovative business climate, this decision proves, yet again, that North Carolina’s biotechnology sector is thriving statewide.”
In addition, the City of Greenville approved a Job Creation Grant totaling $500,000 over five years, the Greenville ENC Alliance will provide a total of $150,000 over five years, and the NC Biotechnology Center will provide a $100,000 Economic Development Assistance Grant. Other partners include Greenville Utilities Commission, Pitt Community College, and East Carolina University. “North Carolina is home to a diverse life science workforce and world-class universities and community colleges, who are developing the best and brightest talent in the nation, added Secretary Machelle Baker Sanders. “We will continue to help growing innovators improve the lives of North Carolinians and our global community for generations to come.”
The recruitment of this project to Pitt County was a collaborative effort by several economic development organizations including the North Carolina Department of Commerce, Economic Development Partnership of North Carolina (EDPNC), Pitt County Economic Development, and Greenville ENC Alliance.
“We are thrilled that Thermo Fisher has, again, chosen to invest in our community. This is further proof that the Greenville and Pitt County area has the resources needed to support the pharmaceutical manufacturing and biotechnology industry,” said Brad Hufford, vice president of business development for the Greenville Eastern North Carolina (ENC) Alliance.