NC: Sequenom Expanding in Research Triangle Park, Creating 242 Jobs
17 Oct, 2011
Company plans molecular laboratory
Image via CrunchBase
Gov. Bev Perdue recently announced that Sequenom Inc., a company committed to improving healthcare through revolutionary genetic analysis solutions, plans to build a state-of-the-art molecular diagnostics clinical laboratory in Wake County. The company plans to create 242 jobs and make a capital investment of $18.7 million in the Research Triangle Park.
“Creating jobs is my top priority, and Sequenom is a cutting-edge company working on the forefront of biotechnological innovation,” Gov. Perdue said. “They have selected North Carolina as the place to launch the latest advancement in testing for Down Syndrome because our history of strategic investment in education and job training guarantees they have the workforce they need to succeed.”
Sequenom Center for Molecular Medicine® (Sequenom CMM), a subsidiary of Sequenom, Inc., is a CAP accredited and CLIA-certified molecular diagnostics laboratory developing a broad range of diagnostics with a focus on prenatal diseases and conditions. These genetic tests, provide better patient management alternatives for obstetricians, geneticists and maternal fetal medicine specialists. The MaterniT21 test, which is expected to launch in the coming months, is meant to advance prenatal screening for trisomy 21, the most common cause of Down Syndrome. The company was founded in 1994 and employs more than 280 employees. Sequenom is headquartered in San Diego, CA.
While individual wages for the 242 jobs will vary by job function, the overall average for the new jobs will be more than $53,721 a year, not including benefits. Wake County’s average annual wage is $44,980.
“Sequenom is rapidly advancing innovative technologies and has been looking at the right venue to expand its capacity, so we’re extremely pleased to have reached an agreement with North Carolina,” said Paul Maier, President, Sequenom CMM. “The North Carolina region shows great promise for us, as an ideal location on the East Coast with a robust like-minded community and commitment to advancing our technologies through education and jobs creation.”
The state’s Economic Investment Committee today voted to award a Job Development Investment Grant to Sequenom. 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 60 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 Sequenom meets the targets called for under the agreement and sustains them for nine years, the JDIG could yield up to $2.3 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 NC Biotechnology Center.
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 Sequenom, including job opportunities, visit www.sequenom.com.