Headquartered in Craigavon, United Kingdom, Almac Group, a privately-held, global contract development and manufacturing organization providing a wide range of services to the worldwide biopharma industry announced today that it will expand its operations in the Durham, creating 79 new jobs over the next three years and 102 jobs over the next five years. The company plans to invest $5.2 million in its expansion herein in the next three years and more than $6 million over the next five years.
Almac Group’s expanded operations in Durham will employ a broad range of positions in contract research and clinical trials management. Compensation will vary by position, but the new jobs will average $69,979 in compensation. Durham County’s overall average annual wage is currently $66,913.
“The City of Durham is a key economic development ally and we are pleased that their support made Alamac’s expansion in Durham possible,” said Geoff Durham, Chamber President.
Ted Conner, senior vice president of economic development, presenting at the City of Durham Public Hearing to approve incentives for Almac Monday evening called the expansion a success in attracting and developing job opportunities for a broad range of a community’s residents.
Almac Group’s expansion in North Carolina was made possible in part by a performance-based grant of up to $77,000 from the One North Carolina Fund.
The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for grant funds. All One NC grants require a local government match.
The Life Science Industry has been growing in Durham and Almac’s expansion is the latest in a trend of CRO’s locating or growing here this year. According to development data compiled by the Durham Chamber of Commerce, there have been nearly 60 Life Science company relocations or expansions in Durham in 2016 and 15 of these announcement have been by CRO type companies totaling more than $84 million and 278 new jobs.
Almac employs over 4,500 individuals across facilities in Asia, Europe and North America. Its existing workforce in Durham totals 288.
Key partners in the project include the Greater Durham Chamber of Commerce and Durham County, the City of Durham, the North Carolina Biotechnology Center, the North Carolina General Assembly, the North Carolina Community College System and North Carolina Revenue.