Genetics testing company to invest $115 million in NC with new lab, adding 350+ jobs
Another biotech company has announced it is coming to the Triangle.
Invitae Corp., a medical genetics company based in San Francisco, plans to build a testing and laboratory in Morrisville, according to an announcement from Gov. Roy Cooper’s office. The company says it will create 374 jobs at the facility over the next decade, Cooper said.
Ken Knight, Invitae’s COO, said the company wanted an East Coast location to better serve customers and also help it recruit and hire talented people.
“Our mission is to make genetic information affordable and accessible for billions of people,” Knight said in a written statement. “Our new location near the Research Triangle Park will help us bring that mission to reality.”
Invitae’s decision was made easier by a Job Development Investment Grant approved by the state’s Economic Investment Committee on Tuesday. Over the 12-year term of the grant, the company could receive up to nearly $6.8 million in state tax breaks.
Invitae will pay an average of $91,176 a year, according to Cooper’s office, compared to the Wake County average of $63,966.
Invitae will become one of the first companies to move into The Stitch, the former Morrisville Outlet Mall off Airport Boulevard at Interstate 40. The vacant mall is being converted into 245,000 square feet of office and lab space. In an email, the company said it plans to have people working there by early 2022.
Founded in 2012, Invitae has about 2,100 employees, many working remotely across the country and overseas. In addition to San Francisco, the company also has production facilities in Colorado, Seattle and Irvine, California.
Using a sample of saliva, Invitae analyzes a person’s genes to look for changes that could potentially lead to disease. The tests can be ordered by a physician or, the company says, an independent physician will review a person’s health history to consider whether a test is appropriate.
Third big biotech jobs announcement
Invitae is the third biotech company to announce a new facility in the Triangle in the last month.
The Japanese contract drug manufacturer Fujifilm Diosynth announced in March that it will spend $1.5 billion on a new manufacturing plant in Holly Springs and bring 725 jobs to the area over five years. The state agreed to give Fujifilm a JDIG grant worth up to $19.7 million over 12 years if the company meets its hiring and investment goals.
And earlier this month, British pharmaceutical manufacturer Abzena announced it would build a plant in Sanford, creating 325 new jobs. The state, Sanford and Lee County offered the company incentives worth up to $18.4 million.
Cooper said it’s not just the tax breaks that attract life sciences companies to the Triangle.
“Biotechnology companies continue to choose North Carolina as a trusted and reliable location to grow their companies,” Cooper said in a written statement. “From specialized workforce training programs to world-class research infrastructure, companies like Invitae appreciate the advantages our state delivers.”
This story was originally published April 20, 2021 at 12:08 PM.
