Overview
- The company increased its planned investment from $700 million to about $2 billion and added roughly 100 positions, taking projected headcount to more than 500.
- The 700,000-square-foot facility is slated to be operational by the end of 2029 and represents Genentech’s first new manufacturing site in roughly two decades.
- Genentech says the plant will support development and production of its metabolic medicines, including next-generation obesity treatments.
- North Carolina approved up to $13.1 million in incentives, including a jobs grant of about $9.8 million, with payments issued in installments contingent on meeting hiring and investment goals.
- State data project average annual wages around $120,000 for the roles, while the expansion reinforces a growing biomanufacturing cluster that includes Amgen, Fujifilm Diosynth, Novo Nordisk, and Eli Lilly in the Triangle.