NC: Gov. Perdue Announces Additional 100 Jobs with Novartis
23 Dec, 2010
Company plans $36 million investment in Wake County.
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Gov. Bev Perdue recently announced that Novartis Vaccines and Diagnostics, Inc., a global leader in vaccine and diagnostics, will add a development lab and pilot plant at the site of its pandemic and seasonal flu production facility in Holly Springs.
The company plans to create 100 new positions in North Carolina and will invest $36 million as part of the project, which was made possible in part by state grants from the Job Development Investment Grant program and One North Carolina Fund.
“Once again, a top international company is bringing well-paying jobs to North Carolina,” said Gov. Perdue. “Novartis has transformed the economic base for Holly Springs and now is expanding in that fast-growing area. Companies like Novartis know the value of our state’s skilled workforce, thanks to our investments in education and worker training.”
Novartis, headquartered in Basel, Switzerland, employs more than 100,000 employees in over 140 countries. Novartis is a global leader in vaccines and diagnostics for human therapeutics and diagnostic testing. The company is planning the design, construction, and validation of a development lab and pilot plant at the existing Novartis facility in Holly Springs. The proposed facility would contain research and development scale equipment as well as medium scale equipment and facilities necessary for clinical manufacturing.
“Novartis Vaccines and Diagnostics is excited to start construction of our new viral lab and pilot plant that will enable us to advance our viral vaccines pipeline and develop new technologies so we can get life-saving vaccines to patients quicker. We chose the Holly Springs location for this important project because of the great talent pool to recruit from, proximity to area universities and the relationship we have with our neighbors in the state, county and town of Holly Springs”, said Matthew Stober, Global Head of Technical Operations for Novartis Vaccines and Diagnostics, Inc.
While individual wages for the 100 additional positions will vary by job function, the overall average for the new jobs will be $106,200 a year, not including benefits. The Wake County average annual wage is $42,692.
To help facilitate this expansion, the company has been awarded a $1 million grant from the state’s One North Carolina Fund. This fund provides cash grants to attract business projects deemed by the governor to be vital to a healthy and growing state economy. No money is paid up front and companies must meet job creation and investment targets to receive payments. One North Carolina Fund grants also require a local match, and this grant is contingent upon approval of local incentives.
Also, the state Economic Investment Committee today voted to award a Job Development Investment Grant to Novartis. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.
Under the terms of the JDIG, the company is eligible to receive a grant equal to 65 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the nine years in which the company meets annual performance targets. If Novartis meets the targets called for under the agreement and sustains them for nine years, the JDIG could yield $2.7 million in maximum benefits for the company.
Other partners that assisted with this project include: the N.C. Department of Commerce, N.C. Community Colleges and the Town of Holly Springs.
Through Gov. Perdue’s JobsNOW initiative, the state continues to work aggressively to create well-paying jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
For more information about Novartis, including job opportunities, visit: www.novartis.com.