News Summary
Genentech’s recent groundbreaking in Holly Springs, NC, marks a $700 million investment in a biotechnology manufacturing site. This facility will create over 400 permanent jobs and around 1,500 construction jobs. The project aims to stimulate the local economy by contributing an estimated $3.1 billion to the state over 12 years, supported by a significant incentive package from both state and local governments. The facility represents a major step in positioning North Carolina as a leading biotech hub, reflecting the area’s growth and the demand for skilled workers in the industry.
Holly Springs, North Carolina, is set to become a major hub for biotechnology innovation with the recent groundbreaking of a new facility by Genentech.
Major Investment and Project Details
Genentech has announced a $700 million investment in a new biotech manufacturing site in Holly Springs. The groundbreaking occurred in late August, signaling the start of construction on what will be the company’s first East Coast manufacturing facility and the first new global site in 20 years. Once operational, the facility is expected to create over 400 manufacturing jobs and approximately 1,500 construction jobs during the build phase. The project will focus on developing medicines for obesity, with the potential for future expansion depending on U.S. market and policy conditions.
Economic Impact and Incentives
The project is projected to generate significant economic benefits for North Carolina, including adding an estimated $3.1 billion to the state’s economy over the 12-year period covered by incentives. The state government has approved a $13.1 million incentive package to attract Genentech. This package includes a $9.8 million jobs grant, helping to offset the company’s investment costs. Additional local incentives could total around $33.5 million, further supporting the project.
The new facility will primarily support high-wage jobs, with an average annual wage of approximately $120,000—56% higher than the average private sector wage in Wake County, where Holly Springs is located. The hiring process for these positions is expected to take place between 2028 and 2032.
Regional Significance and Industry Growth
Wake County has become a notable region for biotech growth over the past decade, announcing 17 biotech projects that have created roughly 3,700 jobs and attracted $5 billion in capital investment. This trend underscores the area’s burgeoning reputation as a biotech hub, underpinned by a strong talent pool and a history of successful biotech companies in the region.
North Carolina as a whole continues to strengthen its position as a top state for business, having been named the best state for business in 2025 by CNBC. In addition, local educational institutions like Wake Tech are planning to enhance workforce training to support the increased demand for skilled workers due to biotech investments.
Community and Business Perspectives
Local business owners have expressed enthusiasm about the new genetic manufacturing facility and its potential to stimulate community growth. The owner of Asia’s Cakes indicated that recent growth and investments in Holly Springs influenced her decision to expand her business there. Similarly, the co-founder of Bombshell Beer Company highlighted the opportunities created by the biotech development for the local economy and employment.
State Leadership Comments
State officials, including Governor Josh Stein, who addressed the recent investments during a regional summit, emphasized North Carolina’s strategic focus on fostering the life sciences industry as part of the state’s economic development efforts. The emphasis on attracting large-scale biotech projects aligns with broader regional and state initiatives to position North Carolina as a leading innovative economy.
Conclusion
The groundbreaking of Genentech’s new Holly Springs facility marks a significant milestone in North Carolina’s biotech landscape. With substantial investment, state and local incentives, and a strategic focus on high-paying jobs and industry growth, the project is poised to have a lasting economic impact on the region.
Deeper Dive: News & Info About This Topic
HERE Resources
North Carolina Bolsters Workforce Development Initiatives
Additional Resources
- ABC11 News
- Wikipedia: Holly Springs, North Carolina
- WRAL News
- Google Search: Genentech Holly Springs facility
- Carolina Journal
- Encyclopedia Britannica: Biotechnology
- CBS 17 News
- Google News: Holly Springs biotechnology
- Axios
- Google Scholar: Genentech Holly Springs
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
