Overview of North Carolina’s exploding biotech industry

Thank you for joining us this Monday morning. This is the first piece in our end of year content that will review and preview leading topics that impact North Carolina’s business community.

The holidays are filled with cheerful celebrations with friends and family, but they also offer an opportunity to reflect on those no longer with us. One person who comes to mind this holiday season is a good friend of The Results Company, Bob Ingram – one of the most important leaders in the North Carolina life science industry and a former CEO of GlaxoWellcome. 

Bob was a pillar of the biotech industry here in North Carolina and leaves a legacy. He played a key role in efforts to land the Carolina Hurricanes in Raleigh. Throughout his leadership in the business world, he helped put North Carolina on the map as a hub for life sciences and pharmaceutical companies. Finally, Bob led efforts to start NCInnovation, which is poised to boost innovations at universities across the Tar Heel State.

His legacy impacted the entire state and the Research Triangle for the better and provides an example of what purposeful leadership can do.

Part of his legacy was boosting North Carolina’s standing as a hub for the biotechnology industry. This year, North Carolina saw at least $10 billion worth of new projects announced along with thousands of new jobs, with a focus in the Triangle region. Let us look at the history and impact of biotechnology in North Carolina to better understand its direction in the new year.

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In 1952, a sociologist from the University of North Carolina recommended that state leaders find a way to leverage the convergence of three research universities — the University of North Carolina at Chapel Hill, North Carolina State University, and Duke University. In 1956, with Governor Luther Hodge’s endorsement , the Research Triangle Committee formed and hired its first executive director. By 1959, five companies called the Research Triangle home, and by the mid-1960s, International Business Machines (IBM) announced plans for a campus, and the U.S. Department of Health, Education, and Welfare announced plans for its National Environmental Health Service Center in RTP.

From these humble beginnings, the Research Triangle Park spans over 7,000 acres and is home to 375 companies that employ over 60,000 employees. According to a 2024 report, RTP contributes over 3.5% of North Carolina’s GDP, with a plurality of companies in the life science and research sector.

With the catalyst of the Research Triangle Park, North Carolina’s life science sector has emerged as a global leader. Over 830 life sciences companies call North Carolina home, supporting over 2,500 additional companies. Over 75,000 North Carolinians work in the field of life science. According to a 2022 study, the life science industry in our state generates over $88 billion in economic activity annually.

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This year, North Carolina saw several companies announce major projects across Eastern North Carolina totaling over $6.5 billion in future capital investments and thousands of jobs. Here are some highlights: 

• In Holly Springs, Japanese-based Fujifilm announced plans to invest $1.2 billion to expand its operations in southern Wake County.
• In Sanford, the Japanese company, Kyowa Kirin broke ground on a new facility and announced plans to invest over $530 million and create over 100 more jobs to establish its presence in North America.
• In Wilson, Neopac announced plans to expand its facility with a $10 million investment to create its new tube production facility.
• Also in Wilson, Germany-based Scott Pharma announced plans to invest $371 million to build its new U.S. manufacturing facility for pre-fillable polymer syringes that require deep-cold storage and transportation of mRNA mediations. This project is expected to create 401 jobs and begin operations in 2027.
• In Greenville, Japan-based Nipro announced plans for its first North American manufacturing facility with a $397.8 million investment expected to create 232 jobs.
• In Clayton, Novo Nordisk announced plans to expand its long-time facility in Johnston County with a $4.1 billion investment that is expected to create over 2,500 jobs.
• In Holly Springs, California-based Amgen announced plans to expand its operations in North Carolina with a $1 billion investment that is expected to create over 370 jobs.

North Carolina attracted these projects because of the state’s favorable business climate and the greater biotech ecosystem that cultivates the trained workforce that companies need.

There is no doubt, we are reaping the benefits of Bob Ingram’s leadership in North Carolina today. As we look to the new year, it is an excellent time to reflect on what we can do today to improve tomorrow’s generations. 

Next up, on Christmas Eve will be a special message from Chuck Fuller, CEO of The Results Company.