Pharma company AbbVie plots 700-job facility in Durham

AbbVie, a biopharmaceutical giant, will invest $1.4 billion into a new facility in Durham, the company and the N.C. Department of Commerce announced Wednesday.

Why it matters: The expansion is yet another win from the pharmaceutical industry for the Triangle and will create more than 700 jobs over the next four years, according to AbbVie.

• AbbVie also considered Chicago for the expansion, according to the Commerce Department.

Driving the news: If it meets hiring and investment goals, AbbVie could receive more than $19 million in incentives from the state.

• The city of Durham and Durham County will also contribute $24.8 million in incentives.

Zoom in: AbbVie said in a statement that it hopes to begin construction on the 185-acre campus this year and open the facility in 2028.

• The facility will focus on the production of AbbVie's drugs in the immunology, neuroscience and oncology space.
• The average wage at the AbbVie facility will be $118,000, and the company is expected to hire engineers, lab technicians, manufacturing roles and scientists.
• This is AbbVie's first investment into the state of North Carolina, and its campus will be located near Research Triangle Park.

• The company said the first phase of construction at the site will include facilities for small volume parenteral drugs, laboratories, a warehouse and administrative offices.

The big picture: Durham and Wake counties have seen huge commitments from pharmaceutical companies in recent months.

• Last fall, Novartis pledged to hire more than 700 people at facilities in Durham and Wake counties.
• Other wins include expansions from Genentech, Amgen, Fujifilm Diosynth, Biogen and Eli Lilly.