From 2004-2006, new and expanding life sciences companies in North Carolina's Research Triangle received more than $1.24 billion in investments.
Charles Hayes, president of the Research Triangle Regional Partnership (RTRP), discusses some of the investment highlights during a recent interview (MP3 file).
A study released by RTRP in April estimated the economic impact of the region's life sciences sector at more than $5.5 billion from more than 500 companies and 29,000 employees in the sector and related services jobs. Since then, new and expanding companies have announced millions in new investments and hundreds of new jobs.
Merck in December announced a $100 million expansion of its $200 million vaccine plant in the region. Quintiles Transnational announced in November a $100 million expansion of its headquarters and operations.
Other recent announcements include Novartis' plans to build a $267 million flu vaccine manufacturing plant in the region; Eisai's $105 million expansion of its R&D and manufacturing operation; and $50-million-plus expansion projects planned by Stiefel Research Institute and United Therapeutics. Those are in addition to major expansions announced in the past three years by GlaxoSmithKline, Wyeth, Novo Nordisk and other companies, large and small, that comprise the region's life sciences cluster.
More information on the region's life sciences strategy and the region's resources for life sciences companies may be found at www.researchtriangle.org/lifesciences.