Thermo Fisher is making an additional $154 million expansion of its Greenville facility, Gov. Roy Cooper’s office announced Tuesday.
This is in addition to a $500 million expansion that was announced in December.
The new investment is expected to create an additional 290 new jobs, according to a news release from the governor’s office.
The expansion will increase the manufacturing capacity for sterile liquid and lyophilized filling, pre-filled syringes and solid dose continuous manufacturing.
“Thermo Fisher's exciting announcement underscores North Carolina’s global reputation as a prime location for life sciences companies to operate,” Cooper said. “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.
A state Job Development Investment Grant was approved for the project by the state’s Economic Investment Committee earlier today.
The JDIG agreement authorizes a potential reimbursement to the company of up to $4.5 million over 12 years.
Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
Because Thermo Fisher Scientific is expanding in Pitt County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving as much as $503,200 into the state’s Industrial Development Fund- Utility Account.