RICHMOND, Va. (AP) — Massachusetts-based Thermo Fisher Scientific is expanding its bioanalytical laboratory operations into three new locations in the Richmond region, Virginia Gov. Glenn Youngkin announced Monday.
The company will invest $97 million in the expansion, which the governor’s office said in a news release was expected to add nearly 150,000 square feet to its Richmond-area operations and create more than 500 new jobs.
“This sector has gained significant momentum in the Commonwealth due to our research institutions, skilled talent and advanced innovation ecosystem, and we are proud of the company’s developments happening right here in Virginia,” Youngkin said in a statement.
Former Gov. Ralph Northam approved a $1 million performance-based grant from an incentive program that encourages capital investment by existing Virginia companies, for an expansion in suburban Henrico County. The former governor also approved $2 million from the Commonwealth’s Opportunity Fund to assist Henrico County, and $151,952 for the Richmond project, the news release said.
Thermo Fisher is also eligible for other taxpayer-funded benefits.
