INC to add 1,100 jobs, may get $14.8 million

Drug researcher is to get incentives for building headquarters in Wake; pay would average $62,690

Corporate pledges of new jobs have become almost routine in much of North Carolina this year.

But none was as big as the 1,100-employee announcement Wednesday from a small, privately held Raleigh drug researcher.

INC Research, which moved from San Diego to leased offices in North Raleigh seven years ago, said it plans to invest $19.2 million in a growth spurt that would include new corporate headquarters in Wake County by 2011.

About half a dozen companies have each announced intentions to create at least 200 jobs in the state this year, including Quintiles Transnational in Durham, which, like INC, is in the business of running tests for drug developers.

INC employs 1,300 people worldwide, including about 400 in Raleigh. It will be eligible for up to $14.8 million in state incentive grants if it meets hiring goals.

"This is good news for this county, this state, and we're excited about it," Gov. Mike Easley said at a news conference with INC executives. "It strengthens North Carolina's hold on biotechnology."

INC is the third contract research organization to announce a significant expansion in the Triangle this year. Together, PRA International of Raleigh, Quintiles and INC expect to create 2,500 jobs in the next few years.

The Triangle is benefiting from a boom in contract research organizations. Analysts predict that revenue in the industry will grow at least 15 percent this year and continue to gain momentum in years to come.

Stricter regulatory requirements, growing research and development budgets and drug makers' increasing reliance on the outsourcing of clinical trials are fueling the good times, said David Windley, an analyst for Jefferies.

"The industry is doing fantastically well," Windley said.

According to the N.C. Biotechnology Center, the state is home to 90 contract research organizations. Most of them are based in the Triangle or have operations here.

The region's trained labor pool and access to world-class academic and research facilities are appealing to the companies. The ability to recruit locally was one of the reasons INC picked Raleigh for its expansion, chief executive Jim Ogle said.

INC was also in talks with Philadelphia and Austin, Texas, Ogle said. Economic development recruiters in those states also offered incentives, he said, "but North Carolina did better."

As part of the agreement with the state, INC is required to create 984 jobs by 2011.

If INC fails to meet those terms, as well as other conditions, the grant could be reduced or terminated.

The jobs are expected to include management, research, data processing and administrative positions. Salaries are projected to average $62,690 per year, plus benefits.

(Staff writer Tim Simmons contributed to this report.)