Gov. Bev Perdue today announced that Bayer CropScience LP, a leading plant science company specializing in crop protection, non-agricultural pest control, seeds and plant biotechnology, will expand in Wake County. The company plans to create 128 new jobs and invest $10.2 million during the next five years in Morrisville.
“North Carolina is a recognized world leader in biotechnology manufacturing and research,” Gov. Perdue said. “Our state continues to support the expansion of global companies attracted by our top-rated business climate, knowledge-based workforce and unparalleled quality of life.”
The state’s Economic Investment Committee met today and voted unanimously to award a Job Development Investment Grant to Bayer CropScience LP to facilitate this expansion. While wages will vary by position, the average annual wage for the 128 new jobs is $101,018 not including benefits, which exceeds the Wake County average wage of $43,160.
Bayer CropScience LP is a subsidiary of Bayer CropScience AG, part of the German company Bayer AG. Bayer CropScience LP, headquartered in Research Triangle Park, employs 2,400 people in the United States, including 476 workers in North Carolina. The company’s biotechnology activities are focused on improving agricultural crops such as vegetables, cotton, canola and rice, as well as creating plant-based solutions to help fill increasing global demands for food, feed, fiber and fuel.
To date, the company’s primary research and development site has been its BioScience Innovation Center in Gent, Belgium, with development, breeding and testing facilities in strategic markets around the world.
The company plans to open the Bayer CropScience Research and Development Innovation Center in Morrisville, leasing existing laboratory and office space to conduct basic plant research across a range of technology and crop platforms. Additionally, the Innovation Center will house the company’s BioAnalytics and Regulatory Affairs functions, which support the development and commercialization of biotech products.
“Bayer CropScience has strong roots in North Carolina, and a firm commitment to continuing to grow our business here,” said Bill Buckner, president and CEO of Bayer CropScience LP. “In addition to having one of the best-trained biotechnology workforces in the country, this region is also a center of agricultural and biotechnology innovation, so when we were looking to expand our innovation capacity, it made great business sense to do so in this area. We are excited about establishing our Research and Development Innovation Center here, and the opportunities it provides for our company and the region.”
For each of the grant’s nine years in which the company meets the required performance targets, the state will provide a grant equal to 50 percent of the state personal income withholding taxes derived from the creation of new jobs. If the company creates the jobs called for under the agreement and sustains them for nine years, the agreement could yield as much as $2.3 million in maximum benefits for Bayer CropScience and up to $774,000 to the state’s Industrial Development Fund for infrastructure improvements in economically distressed counties. When a Job Development Investment Grant is awarded to one of the state’s more economically prosperous counties such as Wake, 25 percent of the grant award is allocated to the Industrial Development Fund to encourage economic development in less prosperous counties.
“During these tough economic times, I welcome this effort to bring high-paying, high-tech jobs to North Carolina,” said Sen. Josh Stein.
“Our top-notch workforce continues to attract global companies that are looking to invest in and expand their operations in North Carolina,” said Rep. Ty Harrell, Chairman of the House Science & Technology Committee. Both Rep. Harrell and Sen. Stein represent the Morrisville area.
Job Development Investment Grants are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant. Since the first grant was awarded in 2003, the program has been responsible for creating commitments for more than 30,000 jobs and $6.1 billion in investment in North Carolina.
Other partners who assisted with this announcement include: the N.C. Department of Commerce, the N.C. Department of Revenue and the N.C. Biotechnology Center.
For more information about Bayer CropScience, including employment opportunities with the company, visit www.bayercropscience.com.