Aurobindo, an Indian generic drugmaker, said it will build its new headquarters for U.S. operations and manufacturing in Durham, NC, bringing $31.7 million in investments and creating 275 jobs.
The announcement is the first such economic development to be unveiled in the state since state lawmakers approved the controversial House Bill 2 that is designed to protect business owners from legal action if they refuse on religious grounds to do business with gay customers, the Triangle Business Journal reported. Musicians have cancelled performances and corporations such as PayPal and Deutsche Bank have backed away from expansion projects in the state because of the law.
A jobs development grant worth up to $3.8 million over the next 12 years was approved for Aurobindo in addition to $400,000 given in economic incentives by both the city of Durham and Durham County. Another $467,000 in training through the community college system also has been granted to the company.
With a facility in Durham, Aurobindo will be able to ramp up production faster than if it decided to build a new plant on land it owns in New Jersey.
“We are excited about our plans for expansion of our specialty pharma R&D and manufacturing in North Carolina,” Dr. Ninad Deshpanday, president of Aurobindo’s U.S. operations, said in a statement.
The company’s expansion into North Carolina is expected to generate a $17.1 million annual payroll, officials said.
In October, Aurobindo announced plans to build three new plants in India in the next three years.
-here’s the Triangle Business Journal story
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Pictured is downtown Durham, courtesy of Atlpedia.