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Agilent’s $725 million expansion in Colorado will create 160 new jobs

By Nithya Bose in US business news, posted January 10, 2023

Agilent Technologies has revealed plans for a $725 million expansion of its manufacturing facility in Frederick, which will create 160 new jobs.

The biotech firm will make the huge investment to almost double the plant's production capacity.

The new jobs will pay more than $100,000 a year on average, which is more than the originally announced.

Weld County and Frederick said in a statement they would grant $9.4 million towards the project.

The Santa Clara-based company currently has around 700 people in Weld County, where it makes therapeutic oligonucleotides, also known as "oligos."

The components, which include DNA and RNA, are increasingly being used in drugs to treat a variety of health issues ranging from cardiovascular disease to cancer.

CEO Mike McMullen said: “Agilent’s presence in Colorado is an important element of our focus on supporting high-growth businesses and the customers we serve.

“The resources, talent, and support we have in the state have helped, and will continue to help us achieve our long-term growth objectives.”

He expected that the therapeutic oligos market, which is presently worth $1 billion, will grow to $2.4 billion by 2027.

To meet this demand, the business intends to establish two additional manufacturing lines in Frederick.

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Agilent will build two new buildings connected by a sky bridge to house the new manufacturing lines.

The Colorado Economic Development Commission granted $1.79 million in Strategic Fund incentives for Project Olive, Agilent's codename at the time, in November.

Project Olive said that it planned to invest $784 million and generate 275 new jobs with an annual compensation of $89,094.

Manufacturing jobs, research and development chemists, facilities and maintenance engineers, supply chain managers and quality assurance and control specialists were the jobs expected to be created.

Source: The Denver Post

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