Five companies involved in biotechnology and/or medical device manufacturing in the Research Triangle region unveiled more than $301 million worth of investments or expansions this summer -- commitments that should produce more than 425 new high-quality jobs.
The five represent a significant share of the $1 billion investment total announced by new and expanding companies in the 13-county region from June through August, for projects estimated to create a total of nearly 1,700 new jobs. The summer investment total exceeded the robust $819 million in regional investments announced for all of 2007.
Merck & Co. announced an additional $300 million investment creating 180 more jobs at its burgeoning new Durham vaccine manufacturing facility. Merck hopes to begin making chicken pox vaccine by 2010 at its $750 million plant, which will ultimately employ some 400 people.
Syngenta, the Swiss agricultural biotechnology firm, announced plans for a $671,640 investment, creating 75 jobs, at its Durham site.
Patheon, a global provider of drug development and manufacturing services, announced plans to move its headquarters from Canada to the Triangle, investing $437,500 and creating 150 jobs, both in its global headquarters and in a new analytical development laboratory.
Danish agricultural biotechnology company Cheminova announced establishment of a 20-person U.S. headquarters with a $146,080 initial investment, and medical device maker Tryton Medical also announced plans to establish a 12-person corporate headquarters in Wake County.