Growing Industry Triggers, Supports Expansion

Addition will support statewide growth

Building Committee Contributing Partners Sketches Quick Facts

To continue the state life science industry’s record-setting growth rate, the North Carolina Biotechnology Center, with the help of statewide partners, is building an addition to its Research Triangle Park headquarters, called the The James B. Hunt, Jr. Leadership Building.

"For twenty-five years, the state has invested in biotechnology research, education and business development through Biotechnology Center funding programs and collaborations," said Robert A. Ingram, Vice Chairman, Pharmaceuticals, GlaxoSmithKline and chairman of the Center's Building Committee.

"Leadership by the Center created a thriving industry with broader needs, and we are pleased to move forward with building the infrastructure to allow the Center to extend that leadership."

From 2001 to 2006, the state’s biotechnology-based industry grew 18.6 percent;– three times the national rate and five times the rate of the state's private sector.

"This industry contributes $45.8 billion;to the state's economy each year, a testament to the investment this Center leverages with state dollars," said Arthur M. Pappas, chairman of the Biotechnology Center's board of directors and managing partner of the venture-capital firm Pappas Ventures.

"Investing in expansion now is essential for the state to benefit from the projected high growth in life science research, development and job creation over the next ten years."

Since the Biotechnology Center opened in 1984, the industry has grown from a handful of companies to more than 520 companies and almost 60,000 jobs with an average salary of more than $69,000.

"We have the potential to create an additional 65,000 to 70,000 jobs by 2020 as we develop new applications of biotechnology right here in North Carolina," said E. Norris Tolson, president and chief executive officer of the Center.

The addition will support a number of new job-creation initiatives in biotechnology leadership, entrepreneurship, K-12 education,  workforce training,  business development  and university research  programs. In addition, the expanded facility will continue to play host to an estimated 35,000 visitors  annually.

The Center through its building committee chaired by Ingram and co-chaired by former Gov. Jim Martin is working to leverage the public and private funds for the expansion.

Contributing Partners

Construction on the $10.4 million addition, planned for several years, was kick-started with:

• North Carolina General Assembly
• a $1 million gift from the Biogen Idec Foundation’s Transformational Grants in Science Education initiative
• The Duke Energy Foundation
• PPD
• Triangle University Center for Advanced Studies Inc.

(September 2009 News Release)