DURHAM, N.C. (AP) — A North Carolina-based contract research testing company for the biotechnology and drug industries said Thursday it will expand its operations in the Research Triangle area, creating about 880 more jobs by 2027.
BioAgilytix Labs LLC and Gov. Roy Cooper announced the $62 million investment for Durham County, where the company was founded in 2008 and now has about 350 workers. The expansion was revealed minutes after a state government panel awarded financial incentives to the company that could reach almost $19 million in cash over 12 years if BioAgilytix exceeds job-creation and capital spending thresholds.
BioAgilytix also considered expanding in the Boston area, where it already has a U.S. location, according to a document presented to the incentives committee by the Department of Commerce. The company, which also has a laboratory in Hamburg, Germany, recently announced a comprehensive COVID-19 testing program for employers.
The average annual salary for the new jobs, which are expected to begin in 2023, will be about $96,500, or about $25,000 above the Durham County average. The company also will receive $525,000 in incentives from Durham County and training assistance from the community college system valued at $1.2 million, the Commerce Department said.