Amgen Eyes $1B North Carolina Expansion
This marks the company’s second foray in Holly Springs.
Amgen will invest $1 billion to expand its drug manufacturing operation in Holly Springs, N.C., adding a second multi-drug substance plant at the site.
The company initially invested $550 million to build a 350,000-square-foot facility in 2021. Construction began in March 2022 and, according to a recent article in the Triangle Business Journal, that plant will be operational in 2026.
Amgen aims to bolster its global manufacturing efforts, maximizing output, and the Holly Springs plant will play a central part in that strategy, CFO Peter Griffith told analysts at Citi’s 2024 Global Healthcare Conference in Miami, as reported by WRAL News. The company focuses its research on inflammation, oncology, rare diseases and general medicine.
READ ALSO: Why the Life Sciences Boom Is Not Likely to Bust
North Carolina’s Economic Investment Committee approved a Job Development Investment Grant that will reimburse Amgen up to $4.9 million yearly across the grant’s 12-year duration. The project is expected to grow the state’s economy by $3.6 billion throughout that period. When fully operational, more than 720 jobs will be generated across both facilities.
The firm owns nearly 109 acres at 4130 Friendship Road, according to Wake County records, and the two plants are slated for delivery at that site. The property is part of the 650-acre CaMP Helix, a master-planned manufacturing and life science park located some 25 miles southwest of downtown Raleigh, N.C.
Life science development in Raleigh-Durham
More than 650 life science companies operate in the Research Triangle Region, and within the past three years, firms have invested some $4 billion in life science projects throughout Wake County.
One such project is Trinity Capital Advisors and Starwood Capital Group’s Spark LS, which is set to comprise 1.5 million square feet of life science and retail upon delivery. Phase one, encompassing 525,000 square feet, debuted last year.
And, this summer, Japan-based Kyowa Kirin earmarked $530 million for a 171,700-square-foot facility in Sanford, N.C., that broke ground in September. When operational in 2027, the plant will aid Kirin’s development and production of biological therapies for patients with rare illnesses.
You must be logged in to post a comment.