Easley, Michael. Press Release, 2006-07-18, Gov. Easley Announces 350 Jobs For Wake County; State Grants Help Bring $267.5 Million Investment For Novartis Vaccine Plant To Holly Springs

Michael F. Easley Governor State of North Carolina Office of the Governor For Release: IMMEDIATE Contact: Seth Effron Date: July 18, 2006 Phone: 919/733-5612 GOV. EASLEY ANNOUNCES 350 JOBS FOR WAKE COUNTY State Grants Help Bring $ 267.5 Million Investment for Novartis Vaccine Plant to Holly Springs RALEIGH - Gov. Mike Easley announced today that Novartis Vaccines and Diagnostics will build and operate an influenza vaccines manufacturing plant with 350 new jobs and invest a minimum $267.5 million over the next five years in Wake County. The announcement was made possible in part by the One North Carolina Fund and the Job Development Investment Grant. “Novartis Vaccines and Diagnostics’ decision to locate in North Carolina means more good-paying jobs for hard-working families in North Carolina,” said Easley. "It is no coincidence that Ernst & Young recently ranked our state No. 3 in the nation in the number of biotechnology companies for the third consecutive year. Biotech and life science companies know they can find a skilled, dedicated workforce here and North Carolina will continue to make the investments in education and infrastructure to ensure biotech companies continue to grow and succeed in our state.” Novartis Vaccines and Diagnostics is a division of Novartis AG of Basel, Switzerland, which employs more than 96,000 people worldwide and had net sales in 2005 of more than $32.2 billion. Novartis Vaccines is the world’s fifth largest vaccine manufacturer and second largest supplier of influenza vaccines in the United States. Other divisions of the company have facilities in Greensboro and Wilson and employ about 680 workers in North Carolina. While wages at the Holly Springs plant will vary by job function, the expected average yearly salary for all the new jobs will be $49,900 plus benefits, which is more than the Wake County average of $34,270, not including benefits. Novartis expects recruiting and interviewing for jobs at the Holly Springs plant will start in 2007. “Novartis’ strategic investment to build a next-generation influenza vaccines manufacturing facility in North Carolina demonstrates our continued commitment to vaccines innovation,” said Joerg Reinhardt, CEO, Novartis Vaccines and Diagnostics. “With its growing capabilities in biomanufacturing. North Carolina provides a strong platform for the continued growth of the Novartis’ vaccines business.” Novartis plans to develop a cell-culture derived influenza vaccine at the Holly Springs facility that will enable flexible, faster start-up of vaccine manufacturing, providing a particularly important advantage in the event of a possible influenza pandemic. Currently influenza vaccines are manufactured using egg-derived production methods, which require up to nine months to produce. The company has been awarded a $3 million grant from the state’s One North Carolina Fund. The One North Carolina Fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. One North Carolina Fund grants are contingent upon a local match. Through the use of this Fund, more than 19,000 jobs and $3 billion in investment have been created since 2001 . -MORE - Governor's Press Office State Capitol, Raleigh, NC 27603-8001 (919) 733-5612 - Toll Free 1-800-662-7005 FAX (9 19) 733-5 166