Agilent Technologies Inc., a biosciences company that produces pharmaceuticals in Frederick and Boulder, will double its manufacturing capacity for specific drug ingredients with a $725 million investment at its Frederick facility, the company announced Monday.
Agilent Technologies (NYSE: A) was mulling an expansion either at the Frederick site or in North Carolina, announcing Monday that the Colorado facility will get a 198,000-square-foot expansion and new manufacturing technologies.
The investment will add up to 160 new jobs in addition to the 520 employees who currently work at the site, with new employees expected to earn an average annual wage of $100,000, according to a news release.
The Colorado Economic Development Commission offered Agilent a $1.79 million incentive to bring its expansion to Frederick, at $6,500 per net new job over a five-year period. The Town of Frederick and Weld County contributed local match incentives at more than $9.38 million over a 10-year period.
Headquartered in Santa Clara, California, Agilent produces therapeutic nucleic acids, or oligos, at its Frederick and Boulder facilities. Oligos serve as the active pharmaceutical ingredients in a variety of drugs that treat diseases such as cancer and cardiovascular disease, according to a news release.
The expansion will double the company's overall production of oglios in response to strong demand, the company said.
Agilent will also add CRISPR technology, a new technology that expands the capacity to guide RNA programs. The expansion will create new positions such as manufacturing and research and development chemists, facilities and maintenance engineers, quality assurance and control specialists, technical engineers and writers, and supply chain and project managers, according to the release.
“Agilent’s expansion reinforces the confidence businesses have in the competitive advantages of Weld County and Northern Colorado," said Mike Freeman, Chair of the Weld County Commissioners, in a statement. "Agilent’s continued investment in the region not only expands an already successful business, but creates quality, high paying jobs and contributes to our thriving business community in Northern Colorado.”
The Frederick facility has been in operation since 2019.
The bioscience and life sciences sector in Colorado generates $12.3 billion in annual sales and directly employs over 32,000 workers, according to the state's Office of Economic Development. Employment in that sector grew by over 34% between 2010 and 2019.
“The Town of Frederick is proud to be home to a state-of-the-art facility that is committed to advancing quality of life through life science research," said Frederick Mayor Tracie Crites
in a statement. "Bettering lives and creating community vitality are paramount to what Frederick is built on. We congratulate Agilent’s success and look forward to their thriving future in our community.”