Incentivized? The Bull City wins 4th expansion bid this year

DURHAM – The Bull City is on a roll.

Today, County officials got to again stand onstage with a “New Jobs For North Carolina” poster in the background, announcing another major expansion project won.

“I really like being up here,” Durham County Board of Commissioners chairwoman Wendy Jacobs quipped to the 50-strong crowd gathered for the formal announcement at the NC Biotechnology Center on Thursday morning.

“I think this is the fourth time I’ve had the honor and privilege in the past year. I don’t want to take it for granted.”

This time, it’s with Merck, a New Jersey-based pharma company developing a vaccine against HPV, that’s decided to expand its plants based in Durham and Wilson.

The prize: a $680 million investment, adding 425 jobs, mostly manufacturing, requiring no degree and offering $60,000-starting salaries.

Durham County Board of Commissioners chairwoman Wendy Jacobs announcing the Merck expansion.

But that’s only one side of the deal.

Tony Copeland, North Carolina’s secretary of commerce, told a gaggle of reporters after the press conference, Durham County also offered a package of incentives to beat out rivals in Virginia and Pennsylvania.

“Over $4 million in job development investment grant,” Copeland said.

“Durham County is putting money in it, too. There will also be grants in lieu of some property taxes in Durham.”

He didn’t go into specifics on the spot. But reports suggest the package is worth nearly $9 million, excluding local dollars. That could bump it up to closer to $12 million.

“Remember, there’s $30 million that will be invested in Wilson County,” he said. “That’s part of what was negotiated to further investments outside of the Triangle.”

And that’s just the tip.

“Around $680 million – almost three quarters of $1 billion – will be improving the tax based here in Durham, which is basically lifting everybody’s boat,” Copeland added. “It’s a wrap-around strategy.”

It seems to be working.

Almost two months ago, manufacturing giant Corning Incorporated announced plans to expand its plant operation in Durham’s Treyburn Industrial Park. Before that, clinical research company Paraxel tapped Durham for parts of its HQ. Then in February, AveXis announced a 200-job expansion.