ProKidney, Corp. will establish a new biomanufacturing facility in Guilford County, North Carolina, creating up to 330 jobs. The Winston-Salem-based late clinical-stage cellular therapeutics company, focused on chronic kidney disease (CKD), also sees a potential investment of up to $485 million, of which $25.5 million will be invested at the closing on the facility in Greensboro. The investment will prepare the company for future commercial manufacturing of REACT® (REnal Autologous Cell Therapy), its lead product candidate being developed for the treatment of chronic kidney disease.
“We considered many factors in determining where best to build future commercial manufacturing capacity for REACT®,” said Dr. Tim Bertram, Chief Executive Officer of ProKidney. “Because of North Carolina’s depth and breadth of biotechnology talent, the advantage of locating the plant near our headquarters and pilot manufacturing plant in Winston-Salem, NC, and the state’s interest in continuing to grow its biotechnology industry, we determined that adding manufacturing capacity here in Greensboro would be in the best interest of ProKidney, its shareholders and its local stakeholders. We look forward to continue growing our business along with the state that we have called home since our founding.”
“Because of North Carolina’s depth and breadth of biotechnology talent, the advantage of locating the plant near our headquarters and pilot manufacturing plant in Winston-Salem, NC, and the state’s interest in continuing to grow its biotechnology industry, we determined that adding manufacturing capacity here in Greensboro would be in the best interest of ProKidney, its shareholders and its local stakeholders.”
— Dr. Tim Bertram, CEO, ProKidney
ProKidney’s project in Guilford County will establish a 210,000-square-foot manufacturing facility that aims to feature multiple breakthroughs in the manufacturing automation, supply chain, and medical delivery of cellular therapy products.
“Innovative life science companies like ProKidney understand that North Carolina offers the key ingredients for business success,” said Governor Roy Cooper. “Our leadership in this important industry sector is recognized around the world, thanks to the specialized workforce training and education systems that support North Carolina’s biotech companies.”
The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.
“As a former executive in the biotech industry, I’m proud to see North Carolina’s continued leadership in this industry, which means so much for both our economy and for people’s health and wellbeing,” said North Carolina Commerce Secretary Machelle Baker Sanders. “We never take for granted the importance of a strong, well-trained workforce to keep us ahead of the pack. As our First in Talent strategic plan makes clear, we’ll continue to invest in our people and the educational systems that create opportunities for everyone.”
ProKidney’s project in North Carolina will be supported by a Job Development Investment Grant (JDIG). Over the 12-year term of the grant, the project is estimated to grow the state’s economy by $1.7 billion. Using a formula that takes into account the new tax revenues generated by the 330 new jobs, along with a company investment of $485 million, the JDIG agreement authorizes reimbursement to the company of up to $5,132,700, spread over 12 years.
Because ProKidney is locating in Guilford County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $570,300 into the state’s Industrial Development Fund – Utility Account, which helps rural communities finance necessary infrastructure upgrades to attract future business.
Auction Direct Brings 173 Jobs To Granville County
Auction Direct USA, an operator of a network of used vehicle superstores, will expand its operations in North Carolina by locating a new high-volume vehicle reconditioning facility in Granville County, creating 173 jobs. The company will invest $2.9 million in Oxford.
With a new subsidiary, called a.i.m., the company is expanding into supply chain solutions, providing both wholesale and retail-ready vehicles to the entire industry, including dealers and digital channels. The company’s project in Granville County will establish a high-volume location to recondition these vehicles.
“The investment in Granville County in a.i.m., our used vehicle supply chain solutions company, marks an exciting expansion for us,” said Tim Frank, CEO of Auction Direct USA. “Every day, hundreds of vehicles expertly reconditioned by our technicians will be made available to our partners, strengthening the automotive supply chain up and down the East Coast.”
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“North Carolina’s momentum in creating great jobs continues with Auction Direct’s decision to invest in Oxford,” said Gov. Cooper. “Recent accolades for our business successes are fantastic, but there’s no better endorsement than when a company already doing business in our state decides to expand here.”
Auction Direct USA’s project in North Carolina will be supported by a JDIG. Over the 12-year term of this grant, the project is estimated to grow the state’s economy by $393.6 million, so the JDIG agreement authorizes the potential reimbursement to the company of up to $2,076,300. Due to Auction Direct’s location in Granville County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $230,700 into the state’s Industrial Development Fund – Utility Account.
