LifeNet Health, a leading global regenerative medicine company, will invest $12.25 million to expand its global headquarters operation in Virginia Beach, VA. The non-profit will add a 100,000-square-foot warehouse, 20,000 square feet of office space, and an 18,000-square-foot R&D and production facility across three campuses.
“We continue to pioneer state-of-the-art technologies that are in the forefront of regenerative medicine, touching hundreds of thousands of lives around the world,” said LifeNet Health President and CEO Rony Thomas. “We are proud to have the support of the Commonwealth and the City in this strategic expansion, which will establish Virginia Beach as a bioscience leader.”
Florida, North Carolina, and Washington were also considered for the project, which will create 321 new jobs. The project marks the 1,000th economic development announcement of Governor Terry McAuliffe’s administration.
The Virginia Economic Development Partnership worked with the City of Virginia Beach to secure the project for Virginia. Governor McAuliffe approved a $700,000 grant from the Commonwealth’s Opportunity Fund to assist the City with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“LifeNet Health has been an important driver of the Commonwealth’s growing biotechnology field for more than 30 years helping anchor the foundation for the robust Princess Anne Commons biomedical cluster in Virginia Beach, and I’m pleased to recognize this company as the 1,000th project announcement during my time in office,” said Gov. McAuliffe. “The Commonwealth’s life sciences sector is fueled by a unique combination of renowned research universities and institutes, international companies, major manufacturers and innovative startups, and plays an important role in our efforts to diversify and build the new Virginia economy. LifeNet Health continues to grow its significant presence in Hampton Roads, adding hundreds of 21st century jobs, and we are honored that this global company has chosen to advance its life-saving mission here in Virginia.”
LifeNet Health, which celebrates its 35th anniversary this year, helps save lives, restore health, and give hope to hundreds of thousands each year through organ and tissue transplantation. Since its founding in 1982, it has grown to employ more than 1,000 people – including 840 in Virginia, more than 770 of which work in Virginia Beach – and helped save or improve millions of lives around the world.
“LifeNet Health’s decision to invest further and expand in Virginia Beach is major win for the Commonwealth’s booming life sciences industry, and a tremendous testament to the importance of the company’s work, as well as the infrastructure and workforce, in the Hampton Roads region,” said Secretary of Commerce and Trade Todd Haymore. “With its central East Coast location and direct access to research and cutting-edge technology, Virginia is an ideal gateway in this critical sector, which employs over 25,000 Virginians. We thank LifeNet Health for its continued confidence in the Virginia, and look forward to building on our strong corporate partnership as the company grows its footprint in Virginia Beach.”
“Virginia Beach is so fortunate to have strong corporations anchoring our key economic sectors, and LifeNet Health has led the way in health care and bio sciences for more than three decades,” said Virginia Beach Mayor Will Sessoms. “Adding another 321 jobs provides a major boost, not just to the company, but to our local economy and our continuing efforts to establish Virginia Beach as a national center for bio sciences. Congratulations to Rony Thomas and everyone at LifeNet Health for achieving yet another milestone in your company’s history.”
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