Trending...
- Sexually Abused in a Psychiatric Hospital or Psychiatrist's or Psychologist's Office? CCHR Urges Survivors to Reach Out to It
- Healthcare Leaders Publish New Integrated Behavioral Healthcare Guide, Led by Doctors of Behavioral Health
- Connecta Satellite Solutions Ready to Support Emergency Communications Following the Venezuela Earthquake
Today, Governor Roy Cooper announced that Audentes Therapeutics, a genetic medicines company, will create 209 new jobs in Lee County, investing $109 million to locate a manufacturing facility in Sanford.
"With our powerhouse research centers and highly-skilled workforce, biotech pioneers recognize North Carolina's role as a leader in the life sciences," said Governor Cooper. "Lee County is a perfect fit for Audentes as they seek to become a global leader in genetic medicines."
An Astellas company, Audentes Therapeutics focuses on developing and commercializing innovative genetic medicines that can offer transformative benefits to patients. Audentes will develop a 135,000 square foot, state-of-the-art, large-scale gene therapy manufacturing facility in Sanford. The initial phase of the capital investment is planned to occur over approximately 18 months, with the plant expected to become operational in 2021. The remaining investment will take place over two additional planned expansion phases.
"Our investment in internal large-scale manufacturing has always been a cornerstone of our strategy to develop and ultimately deliver our important genetic medicines to patients as rapidly as possible. This new facility in Sanford will support the next phase of our growth as we establish a robust, global supply chain and expand our therapeutic and geographic scope as a part of the Astellas group of companies," stated Natalie Holles, President and Chief Executive Officer of Audentes. "We are excited to join the vibrant biopharmaceutical research and manufacturing community that the state of North Carolina has established."
More on ncarol.com
"Audentes Therapeutics is joining one of the nation's top life science clusters," said North Carolina Commerce Secretary Anthony M. Copeland. "North Carolina has the largest biomanufacturing workforce in the nation and a growing concentration of gene therapy scientists, researchers and workers."
The North Carolina Department of Commerce led the state's support for the company's decision.
The average for all new positions could reach up to $83,900. The current average annual wage in Lee County of $41,784.
Audentes' project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by nearly $1.4 billion. Using a formula that takes into account the new tax revenues generated by the 209 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,725,100, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant's reimbursement payments to a given company.
More on ncarol.com
Because Audentes chose to locate in Lee County, classified by the state's economic tier system as Tier 2, the company's JDIG agreement also calls for moving as much as $414,000 into the state's Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Lee, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state's economic tier designations is available here.
"This is an exciting day for Lee County and the City of Sanford because this business is an important part of the biotechnology industry, creating hundreds of jobs and contributing millions of dollars to our local economy," said N.C. Senator Jim Burgin.
"Audentes' new jobs and investment are great wins for the entire state," said N.C. Representative John Sauls. "North Carolina has a strong pipeline of biopharmaceutical talent and a business climate to support their future growth and success."
In addition to N.C. Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Lee County, Sanford Area Growth Alliance, City of Sanford, and North Carolina Biotechnology Center.
"With our powerhouse research centers and highly-skilled workforce, biotech pioneers recognize North Carolina's role as a leader in the life sciences," said Governor Cooper. "Lee County is a perfect fit for Audentes as they seek to become a global leader in genetic medicines."
An Astellas company, Audentes Therapeutics focuses on developing and commercializing innovative genetic medicines that can offer transformative benefits to patients. Audentes will develop a 135,000 square foot, state-of-the-art, large-scale gene therapy manufacturing facility in Sanford. The initial phase of the capital investment is planned to occur over approximately 18 months, with the plant expected to become operational in 2021. The remaining investment will take place over two additional planned expansion phases.
"Our investment in internal large-scale manufacturing has always been a cornerstone of our strategy to develop and ultimately deliver our important genetic medicines to patients as rapidly as possible. This new facility in Sanford will support the next phase of our growth as we establish a robust, global supply chain and expand our therapeutic and geographic scope as a part of the Astellas group of companies," stated Natalie Holles, President and Chief Executive Officer of Audentes. "We are excited to join the vibrant biopharmaceutical research and manufacturing community that the state of North Carolina has established."
More on ncarol.com
- OneVizion Names AI Leader Matthew Kirk as Chief Operating Officer to Drive Governed AI Across Telecom and Electric Utilities
- Dentists launch independent platform to help practices choose the right technology
- Contracting Resources Group Recognized by The Daily Record as a 2026 In the Lead: Best Women-Owned Businesses Honoree
- Woodforest Acceptance Solutions and AlpacaBOSS Launch Partnership
- New "Lakeside Picnic Ride" Package in Japan's Lake Chuzenji region of Nikko: July 1- November 30, 2026
"Audentes Therapeutics is joining one of the nation's top life science clusters," said North Carolina Commerce Secretary Anthony M. Copeland. "North Carolina has the largest biomanufacturing workforce in the nation and a growing concentration of gene therapy scientists, researchers and workers."
The North Carolina Department of Commerce led the state's support for the company's decision.
The average for all new positions could reach up to $83,900. The current average annual wage in Lee County of $41,784.
Audentes' project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by nearly $1.4 billion. Using a formula that takes into account the new tax revenues generated by the 209 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,725,100, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant's reimbursement payments to a given company.
More on ncarol.com
- Former MP Shri GV Harsha Kumar Meets AICC President Mallikarjun Kharge
- Two Attorneys at The Stanley Law Group Named to 2026 South Carolina Super Lawyers List
- IGH Naturals Announces Peer-Reviewed HuMOLYTE® Study Published in Frontiers in Nutrition
- Allstream Energy Partners Expands AI-Optimized Website Development Division to Meet Growing Demand in GEO / AEO Services
- America's Workforce Solution Named an OpenAI SMB Channel Partner, Bringing Enterprise-Grade AI to Main Street
Because Audentes chose to locate in Lee County, classified by the state's economic tier system as Tier 2, the company's JDIG agreement also calls for moving as much as $414,000 into the state's Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Lee, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state's economic tier designations is available here.
"This is an exciting day for Lee County and the City of Sanford because this business is an important part of the biotechnology industry, creating hundreds of jobs and contributing millions of dollars to our local economy," said N.C. Senator Jim Burgin.
"Audentes' new jobs and investment are great wins for the entire state," said N.C. Representative John Sauls. "North Carolina has a strong pipeline of biopharmaceutical talent and a business climate to support their future growth and success."
In addition to N.C. Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Lee County, Sanford Area Growth Alliance, City of Sanford, and North Carolina Biotechnology Center.
0 Comments
Latest on ncarol.com
- Arizona Christian Homeschools Launches Statewide Directory
- Sexually Abused in a Psychiatric Hospital or Psychiatrist's or Psychologist's Office? CCHR Urges Survivors to Reach Out to It
- Senco Home Services Expands Residential Construction Services
- Ricci's Painting & Contracting Expands Home Transformation Services
- CFP, Trauma of Money Specialist Shannah Game Launches YouTube Show Built Around Baking and the Emo
- Alvear Homes Expands 2026 Buyer Education Initiative to Help North Carolina Homebuyers
- Sylvester Anthony III Introduces His Artist Journey with Debut Single "Cherish"
- Boston Industrial Solutions Introduces High-Performance Primer for Bonding Liquid Silicone to Epoxy
- New Comprehensive Guide Unveils the Ultimate Masterlist of Government-Approved Business Funding
- Healthcare Leaders Publish New Integrated Behavioral Healthcare Guide, Led by Doctors of Behavioral Health
- Marketing Company Helps Local Businesses Stop Renting Leads and Start Building A Permanent System
- Verbica Challenges Panetta to a Televised Debate on the Issues
- Salt Lake City Families Turn to Private Autopsy Services for Faster Answers After Unexpected Loss
- K2 Integrity's U.S. and EMEA Teams Again Recognized in Chambers and Partners 2026 Guides
- Connecta Satellite Solutions Ready to Support Emergency Communications Following the Venezuela Earthquake
- Rare 1933 Harold Weston painting will be auctioned to benefit the Keene Valley Library
- $20 Million Revenue Target, Accelerating Growth, 7% Of Outstanding Shares Retired, Clear Path Toward Profitability: VSee Health, Inc N A S D A Q: VSEE
- HomeCentris Home Health Achieves 5-Star CMS Rating
- Adsoptia Launches AI-Powered Optimization Platform for a New Era of Autonomous Marketing Decisions
- Heritage at Manalapan Announces New Incentive: Included Finished Basement on Select Homesites