[Durham INC] Catalent Selects Durham County for Expansion

[Jones, Henry R.]

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NEWS RELEASE

For Immediate Release                                               Date: 12/13/2022
Contact: Public Information Office                      Phone: (919) 560-0000/Fax: (919) 560-0020
E-mail: publicinformationoffice at dconc.gov<mailto:publicinformationoffice at dconc.gov>

Catalent Selects Durham County for Expansion

Company's $40M investment will create 200 new jobs in Life Sciences

Durham, N.C. - Durham expands its life sciences economy with North Carolina Governor Roy Cooper's announcement on Tuesday, December 13, 2022, that Catalent<https://www.catalent.com/>, a leading global development and manufacturing partner to the pharmaceutical, biopharmaceutical, and consumer health industries, will create more than 200 new jobs in Durham County over the next five years. The company will invest up to $40 million to expand its analytical development and testing business in Durham County.



"This has been a banner year for economic development across the state," said Governor Cooper. "Our global reputation for manufacturing and biotechnology has been a major contributor to welcoming expansions from companies like Catalent. When combined with a some of the brightest talent in the world and innovative businesses, North Carolina will continue to be a desired location for the life science sector."



Headquartered in New Jersey, Catalent is a contract development and manufacturing organization with more than 50 global sites. In Catalent's over 85-year history, the company has grown to provide more than 80 billon doses of nearly 8,000 products to its pharmaceutical, biotechnology, and consumer health customers annually. Catalent's BioAnalytics division offers comprehensive standalone analytical development and testing for different treatments including cell and gene therapies. This project will grow the company's support of large molecule development and manufacturing growth and will make a home in the Research Triangle Park.



"We are thrilled that of all the possible locations across the country, Catalent selected Durham to expand its bioanalytical services division," said Durham Board of County Commissioners Chair Brenda Howerton. "This is a fantastic example of our public and private sectors working together to create jobs. This investment will grow the tax base, promote local hiring from our great schools and colleges, and maintain Durham County as a premiere location for life sciences."



New positions include scientists, engineers, and lab associates with varying salaries. Once all the positions are filled, the project has a potential payroll impact of more than $18.3 million per year for the region.



This project from Catalent 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 eight-year term of the grant, the project is estimated to grow the state's economy by more than $378 million. Using a formula that takes into account the new tax revenues generated by the 201 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $805,500 spread over eight years.



Payments for all JDIG and local awards only occur following performance verification by the governing bodies 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. Because Catalent is locating to Durham County, classified by the state's economic tier system<https://www.commerce.nc.gov/grants-incentives/county-distress-rankings-tiers> as Tier 3, the company's JDIG agreement also calls for moving $268,000 into the state's Industrial Development Fund - Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.



The Board of County Commissioners are scheduled to consider a local award at a board meeting in January 2023.



"Catalent is an industry leader in bringing important and life-saving drugs to market, and their announcement of 200-plus new jobs right here in Durham County adds a key piece to our biotechnology ecosystem," Durham County Economic Development Manager Matthew Filter said. "We also greatly appreciate the opportunity to help them partner with local institutions to hire local talent and grow the local life sciences workforce."



In addition to the N.C. Department of 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, North Carolina Biotechnology Center, and the Greater Durham Chamber of Commerce.



For more information about this announcement, contact Durham County Economic Development Manager Matthew Filter at mfilter at dconc.gov<mailto:mfilter at dconc.gov> or 919-560-9340.


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