Agilent Technologies plans a $725 million facility expansion that could bring up to 160 news jobs in the town of Frederick, according to multiple news releases Monday.
Announced at the JP Morgan Healthcare Conference Monday, the new expansion will be at the Frederick campus, north of Denver. The Town of Frederick’s Urban Renewal Authority held a meeting on Dec. 13 where the project details were provided. It will include additional manufacturing space spread across two buildings connected by a breezeway, doubling the manufacturing capacity of therapeutic nucleic acids, which are used to treat disease.
The market for these therapeutic nucleic acids is currently estimated at $1 billion and growing, according to a news release from the company. It should reach $2.4 billion in 2027. This expansion will allow the company to meet growing demand for “siRNA, antisense and CRISPR guide RNA molecules with the first expansion-made shipments to begin in 2026.”
In Colorado, the bioscience and life sciences sector generates $12.3 billion in annual sales and directly employs over 32,000 workers. Employment grew over 34% between 2010 and 2019, according to the state’s Office of Economic Development and International Trade (OEDIT).
“This additional capacity will enable us to meet strong demand for siRNA and antisense molecules and also significantly increase the number of CRISPR guide RNA programs we can take on,” Sam Raha, president of Agilent’s Diagnostics and Genomics Group, said in the release.
The expansion, known as Train C and Train D, will lead to the creation of 160 new jobs at an average salary that exceeds $100,000 per year, according to Agilent. The plan for the expansion, which is on Agilent’s owned land, is estimated to cost some $725 million and should take three years to complete. The company went through a selection process in 2016 in a similar fashion, which led to locating Agilent in Frederick. Announced in 2020, the Train B manufacturing line will go live later this year.
“The resources, talent, and support we have in the state have helped, and will continue to help us achieve our long-term growth objectives,” President and CEO Mike McMullen said in the release. “We’re very pleased to be expanding our manufacturing operations in Fredrick and look forward to continuing our role as a positive force in the community.”
There are already about 700 Agilent workers in Colorado, many in Colorado Springs where the company has maintained a presence for many years.
Agilent has worked to make investments to bring in talent, acquire new equipment, and build its facilities in Frederick. In addition to local incentives, Weld County and the state have also dedicated incentives for expansion, all of which are performance-based.
“This exciting addition to Colorado’s thriving bioscience and life science industry brings hundreds of good paying jobs to Frederick, Weld County, and our state and builds upon our work making Colorado the best place to live, work, and do business,” said Gov. Jared Polis in a release.
The Colorado Economic Development Commission approved up to $1.8 million in a performance-based Strategic Fund incentives over a 5-year period, at $6,500 per net new job, according to OEDIT.
The Town of Frederick and Weld County have contributed to a local incentive package that will exceed $9,387,123 over a ten-year period.
“The Town has remained committed to fostering a business climate that cultivates a lasting relationship with the business community,” Ryan Johnson, Assistant Town Manager, said in a release.
