(The News & Observer, Brian Gordon, 12/14/22)
Catalent, a large biotech company based in New Jersey, has announced plans to expand its North Carolina footprint with a new facility — and new jobs — in Research Triangle Park. The firm received a Job Development Investment Grant, or JDIG, from the North Carolina Economic Investment Committee (EIC) to create 201 new jobs over the next five years on the Durham County side of RTP.
Catalent, which partners with pharmaceutical companies to develop and manufacture medicine, will use the site for testing and analytical development. It’s pledged to invest $40 million in the project. The total value of the state’s JDIG is $1,074,000, which the EIC approved Tuesday.
More than $800,000 of the award will be available to Catalent through payroll tax rebates, which will materialize if the company meets annual hiring and investment commitments. The rest of the grant — roughly $268,000, will be put into the state’s utility account, which funds infrastructure improvements in rural areas seeking further economic development. [Source]