(The Center Square) – Genentech, a San Francisco-based biotech company, has decided to more than double its investment in a new drug manufacturing facility in North Carolina.
The company said Tuesday it now plans a $2 billion investment in the Holly Springs plant scheduled to open in 2029. Production will be next-generation treatments for metabolic conditions, such as obesity.
The company originally announced the plant in May and construction began in August.
“The expanded investment allows Genentech to build out additional production capacity and significantly increase the facility’s output,” the company said.
When the project was announced, Genetech estimated that it would be a $700 million investment that would create 400 jobs in the Triangle.
In a release Tuesday, Genentech estimated that with the expanded investment, the project will create a total of 500 jobs.
“The company decided to increase its investment in Holly Springs, a growing hub for biopharmaceutical innovation, because of its highly skilled local workforce, strong academic institutions, and proximity to other leading life science companies in the Raleigh-Durham area,” Genetech said in the release.
The company founded 50 years ago and headquartered in San Francisco is a member of the Swiss holding company Roche.
“This expansion supports Roche and Genentech’s broader $50 billion commitment to U.S. manufacturing, and reflects Genentech’s shared goal with the U.S. administration to strengthen domestic production and innovation,” the company said.
Roche and Genentech have 13 U.S. manufacturing and 15 research and development sites.
“World-class companies like Genentech recognize that North Carolina is a leading state for biotechnology,” Gov. Josh Stein said at last year’s initial announcement. “These companies know that our life science workforce is ready to help them deliver their cutting-edge medicines to the world. We are proud to welcome Genetech to North Carolina.”
