Biogen Inc. announced July 21 its plans for investing $2 billion in its manufacturing facilities located within North Carolina’s Research Triangle Park (RTP). Bounded by Duke University, North Carolina State University, and University of North Carolina at Chapel Hill, RTP’s 7,000 acres host over 375 companies, spanning science and technology companies, government agencies, academic institutions, startups, and nonprofits.
Biogen is a biotechnology company that primarily develops treatments for neurological diseases, including Alzheimer’s disease, ALS, multiple sclerosis, and Parkinson’s disease. The company has invested $10 billion in the area since its start as the company’s manufacturing base in 1995.
“We are proud of our longstanding commitment to manufacturing innovation, investment, and collaboration with the Research Triangle Park community,” said Nicole Murphy, head of pharmaceutical operations and technology at Biogen. “Our manufacturing footprint in the United States has played a critical role in Biogen’s history and success, and in advancing the treatments that are making an impact for patients, families, and communities here in the U.S. and around the world.”
Murphy continued by saying, “With this investment, we will modernize and expand our manufacturing capability to enable our pipeline and provide resilient patient supply, while continuing to support the skilled and dedicated community of life sciences talent in North Carolina.”
Despite its sizable investment allotment, Biogen’s corporate investment plan for the state is far from unique. North Carolina has experienced a surge in planned corporate investment for nearly two months. According to data collected by the Economic Development Partnership of North Carolina, in the month of June alone, North Carolina secured over $16.7 billion in pledged investment on behalf of corporations, an amount greater than for the entirety of 2024.
For the entirety of the Economic Development Partnership’s database entries (covering a two-year period from July 2023 to June 2025), the organization records 298 total corporate investment initiatives in North Carolina, amounting to $46.0 billion and the creation of 48,156 new jobs. Despite the large number of initiatives launched, most of the investment and job generation is concentrated among a small number of larger firms. Among these firms are household name brands Amazon, Johnson & Johnson, Siemens, and Toyota.
The 10 largest corporate investments by dollar amount over the recorded period accounted for $33.3 billion, or approximately 72% of the total dollar amount announced. These investments were launched by:
- Amazon Web Services: $10.0 billion
- Toyota Battery Manufacturing North Carolina: $8.0 billion
- JetZero: $4.7 billion
- Novo Nordisk: $4.1 billion
- Natron Energy: $1.4 billion
- Fujifilm Diosynth Biotechnologies (Holly Springs): $1.2 billion
- Amgen: $1.0 billion
- Johnson & Johnson: $1.0 billion
- Enovum Data Center Corp: $1.0 billion
- American Titanium Metal, LLC: $0.9 billion
North Carolina’s 10 largest corporate investments in terms of job creation account for 25,173 new jobs, or approximately 52% of the total over the measured period. The companies leading state job growth through their investments are:
- JetZero: 14,564 jobs
- Toyota Battery Manufacturing North Carolina: 3,000 jobs
- Jabil, Inc: 2,003 jobs
- Natron Energy: 1,062 jobs
- Novo Nordisk: 1,000 jobs
- Boviet Solar Technology Co., LTD: 908 jobs
- Ross Stores: 852 jobs
- Fujifilm Diosynth Biotechnologies (Holly Springs): 680 jobs
- Siemens Energy Inc: 559
- Green New Energy materials, Inc: 545 jobs
The recipient counties of this surging corporate investment are many and relatively dispersed. The total investment over the two-year period spans 70 of North Carolina’s 100 counties. Although the Research Triangle covers both Durham and Wake counties, the two counties together only account for $3.7 billion and 3,538 new jobs, smaller fractions of this broader surge in statewide corporate investment.
The companies launching these investment initiatives also come from diverse industries, ranging from automotive and aviation to biotechnology, data services, energy, manufacturing, pharmaceuticals, and retail.
The post Biogen is the latest entrant in NC’s corporate investment surge first appeared on Carolina Journal.
The post Biogen is the latest entrant in NC’s corporate investment surge appeared first on First In Freedom Daily.
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Author: John Doran
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