Gene therapy investment brings 200 jobs to North Carolina

Gene therapy company Jaguar Gene Therapy will invest $125 million in North Carolina to open a good manufacturing practice facility in Research Triangle Park, Gov. Roy Cooper’s office announced.

The investment is expected to create 200 jobs in Durham County. The jobs are estimated to bring $18.5 million of annual payroll growth to the region.

“Our new GMP facility represents a major step forward for Jaguar in our mission to accelerate gene therapy breakthroughs in patient populations with large unmet need,” Jaguar Gene Therapy COO Andrew Knudten said. “North Carolina is known for its innovation in biotechnology and its highly talented workforce, both of which are crucial as we strive to raise the bar for manufacturing safe and effective gene therapies.”

Jaguar Gene Therapy will receive a Job Development Investment Grant (JDIG) over a 12-year term. Based on job creation and investment targets, the JDIG agreement authorizes reimbursement to Jaguar Gene Therapy up to $2.4 million. The project is estimated to grow the state’s economy by more than $279 million, North Carolina Department of Commerce economists estimated.

Cambrex Corporation: The pharmaceutical manufacturer will invest $30 million to expand in Highpoint. The investment is expected to create 78 jobs in Guilford County. Cambrex will receive a performance-based One North Carolina Fund grant of $200,000 to aid the expansion. All One NC Fund grants require a matching grant from local governments.

Pöppelmann Plastics USA: The plastics manufacturer will invest more than $19.2 million to expand in Claremont. The investment is expected to create 133 jobs in Catawba County. Pöppelmann will receive a performance-based One NC Fund grant of $200,000 to aid the expansion. All One NC grants require a matching grant from local governments.

Hubbell Power Systems: The electrical power products manufacturer will invest $8.9 million to expand in Rocky Mount. The investment is expected to create 73 jobs. Hubbell will receive a performance-based One NC Fund grant of $200,000 to aid the expansion. All One NC grants require a matching grant from local governments.

WestRock Company: The differentiated paper and packaging solutions manufacturer will invest $47 million to expand in Claremont. The investment is expected to create 50 jobs in Catawba County. WestRock will receive a performance-based One NC Fund grant of $125,000 to aid the expansion. All One NC grants require a matching grant from local governments.

Custom Alloy Corporation: The pipe fittings and forgings manufacturer will invest $8.1 million to establish operations in Badin. The investment is expected to create 40 jobs in Stanly County. Custom Alloy will receive a performance-based One NC Fund grant of $100,00 to aid the expansion. All One NC grants require a matching grant from local governments.

This article was originally posted on Gene therapy investment brings 200 jobs to North Carolina