Business

Major eco-devo announcement from Gilead

Feb. 9. Gilead Sciences, a leading biopharmaceutical company, will invest $5 million in a new business services and information technology hub in Wake County. The company will create 275 jobs in the Research Triangle region.

“We are eager to welcome many of the highly talented, highly skilled people who live in the Research Triangle region to work with us as we seek to advance new medicines for people with unmet medical needs,” said Andrew Dickinson, Gilead’s CFO.

Economic impact

The state and local area economic impact is expected to be about $39 million annually.

Over the course of 12 years, the project is estimated to grow the state’s economy by $1.11 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the agreement authorizes the potential reimbursement to the company of up to $9,997,500, spread over 12 years.

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