Manufacturing project positioned to accelerate Colorado bioscience employment and innovation
DENVER – The Colorado Office of Economic Development and International Trade (OEDIT) today announced that AGC Biologics has acquired an existing 300,000 square foot facility in Boulder which they will transform into a new manufacturing facility that will bring 280 new jobs to Colorado.
AGC is finalizing the purchase of a facility previously owned by the pharmaceutical company AstraZeneca which closed the site in January 2019 to consolidate operations.
“The addition of this facility supports AGC Biologics’ company-wide expansion initiative, which demonstrates our dedication to support our customers’ demand for mammalian projects, now and into the future,” says AGC Biologics CEO Patricio Massera. “This facility will enable us to continue to advance the development, manufacturing and commercial functions within our dynamic global company.”
"AGC Biologics' Colorado expansion continues the influx of foreign capital into Colorado's rapidly growing bioscience industry cluster,” said OEDIT Global Business Development Director Michelle Hadwiger. “Investments like this make Japan one of Colorado's closest foreign partners and deepens our ties with Asian markets while furthering Colorado’s international economic attraction. As a leading global contract development and manufacturing organization, ACG Biologics is poised to become a foundational Colorado bioscience industry employer and a catalyst for additional industry startup innovation.”
The Economic Development Commission approved both a Job Growth Incentive Tax Credit for $6,404,990 and a Strategic Fund Job Growth Incentive of $75,000 for AGC biologics at its February 2020 board meeting where it was presented under the name Project Blizzard. The Strategic Fund requires a 1:1 local match of $75,000 being provided by the City of Boulder. Because of the unique nature of this project, its effect on the Colorado supply chain and other extraordinary strategic factors, the EDC approved both the JGITC and the Strategic Fund incentive. The incentives are contingent upon the creation of up to 280 net new full-time jobs.
OEDIT’s Project Blizzard, a collaborative project with the Metro Denver Economic Development Corporation, the Boulder Chamber of Commerce, the City of Boulder and the Colorado Bioscience Association, marks the successful culmination of an extensive effort to attract a life sciences employer that can sustain and create jobs. “Especially now, our community’s access to quality job opportunities like these is a priority” added Boulder City Manager Jane Brautigam.
“AGC Biologics’ investment exemplifies the importance of economic development. AGC’s creation of 280 full time jobs with an average wage of over $96,000 creates meaningful new opportunities for our residents while adding a company to our community focused on lifesaving innovations,” said Sam Bailey, Vice President at the Metro Denver Economic Development Corporation.
“Finding a new owner of the AstraZeneca Boulder facility has been a priority for the Boulder Economic Council of the Boulder Chamber since production was halted there 16 months ago. We couldn’t be more excited to see this special manufacturing facility brought back online by a global leader in the production of advanced bioscience therapeutics,” said Clif Harald, executive director, Boulder Economic Council at the Boulder Chamber of Commerce.
“Colorado’s life sciences ecosystem warmly welcomes AGC Biologics to our community,” said Jennifer Jones Paton, President & CEO of Colorado BioScience Association. “Health innovations from Colorado save and change lives around the world. AGC Biologics’ decision to invest in Colorado is a strong endorsement of our state’s life sciences leadership, talented workforce, excellent infrastructure, innovative research and educational institutions, and collaborative, pro-innovation business environment.”
AGC Biologics joins a thriving life sciences ecosystem in Colorado, with more than 720 companies and organizations at all stages of commercialization, and leading academic and research institutions.
The company is a leading global Contract Development and Manufacturing Organization (CDMO) that offers deep industry expertise and unique customized services for the scale-up and cGMP manufacturing of protein-based therapeutics, from pre-clinical to commercial mammalian and microbial production. Its integrated service offerings include cell line development, bioprocess development, formulation, analytical testing, antibody drug development and conjugation, cell banking and storage, and protein expression.
Colorado competed with Washington, Germany and Denmark for the facility.