Biotech company Genentech pledges to create 400 jobs in Holly Springs
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Genentech, a biotechnology company based in South San Francisco, could add 400 jobs in the Wake County town of Holly Springs after agreeing to an incentives deal with North Carolina.
Why it matters: Holly Springs continues to be one of the major hot spots for biotech expansions in the country.
- Amgen, Fujifilm Diosynth, CSL Seqirus and Janssen Pharmaceuticals have together already invested billions of dollars to expand biotech manufacturing to the town in recent years.
State of play: The investment comes a month after Genentech's parent company, the Swiss drug maker Roche, said it would invest heavily in the U.S. in response to the Trump administration's tariffs, Reuters reported.
Driving the news: North Carolina approved a Job Development Investment Grant for Genentech Monday morning worth up to $9.8 million in incentives for the company — if it meets hiring and investment goals.
- The town of Holly Springs and Wake County will add an additional $33.5 million in incentives for the expansion.
Zoom in: Representatives from Genetech and Roche first reached out to the state about the project in November, according to records from the state. Sites in Ohio were the main competition for the expansion.
- Genentech produces a variety of drugs treating cancers and rare diseases, like Avastin for colorectal cancer and Herceptin for breast cancer.
By the numbers: The state said Genentech would invest $700 million into a new, 700,000-square-foot facility in Holly Springs.
- The company would create 420 jobs at the facility by 2032, in roles varying from quality control and packing operations to office roles, according to the state.
- The average salary at the facility is forecasted to be $119,800. The average wage in Wake County is 76,643, according to the state's Commerce Department.