Lab expansion expected to create 200 jobs in Henrico
Pharmaceutical Product Development LLC (PPD) expects to create 200 jobs in expanding its bioanalytical lab in Henrico County.
The governor’s office said the $63.7 million expansion began earlier this year.
Wilmington, North Carolina-based PPD provides drug development, laboratory and lifecycle management services. The company has more than 22,000 employees working in 46 countries.
Dr. Christopher Fikry, PPD’s executive vice president, said in statement that it employs more than 1,000 people at its Henrico operations in the county’s Westwood/Dabney area. PPD’s existing facility there covers more than 250,000 square feet.
The company’s customers include pharmaceutical, biotechnology, medical device, academic and government organizations.
Gov. Ralph Northam approved a $675,000 grant from the Commonwealth’s Opportunity Fund to support Henrico County with the expansion project.
Northam also approved a $450,000 performance-based grant from the Virginia Investment Performance (VIP) program, an incentive that encourages capital investment by existing Virginia companies.
PPD also is eligible to receive sales and use tax exemptions on equipment and consumables used directly and exclusively in research and development, as well as a Major Business Facilities job tax credit for new, full-time jobs created.