As part of the investment, the contract research organization (CRO) is moving its headquarters from Raleigh to Morrisville, North Carolina, to make room for an additional 550 jobs.
Chris Gaenzle, Chief Administrative Officer and General Counsel, INC Research, told us the company spent approximately 18 months exploring options throughout the area, with the goal of consolidating the two existing Raleigh offices.
“We believe the move to Morrisville will enable our two Raleigh offices to be housed at one location, better supporting collaboration and expansion as the Company grows,” he said.
“A large corporate presence near Research Triangle Park will give us more visibility as a global company, facilitate air travel for our colleagues and customers due to its close proximity to Raleigh-Durham International Airport, and help us continue to attract the best and brightest talent.”
The expansion will be facilitated by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. According to a statement released by the Governor of North Carolina, INC Research is eligible to receive up to $8.4m in total reimbursements.
Gaenzle cited robust outsourcing from the biopharmaceutical industry and continued investment in developing novel therapies to bring to market as the key business drivers for INC Research.
“The CRO industry as a whole is well-positioned to meet this need, and we see continued growth across the space,” he said.
Over the last few years, INC has grown its workforce by 10%, globally.
“This growth is a direct result of work we are being asked to do on behalf of Sponsors and, consequently, we are very focused on hiring and retaining talent into INC, including in the Asia-Pacific region, where we see a lot of opportunity,” explained Gaenzle.