PRLog (Press Release) –
Dec 04, 2007 – Covance (Princeton, New Jersey) has purchased from Eli Lilly a partially constructed insulin manufacturing facility on a 47-acre site in Prince William County's technology park (Virginia, US). The company intends to transform the facility into a 410,000-sq-ft state-of-the-art early drug development laboratory, offering safety testing and chemistry analysis services.
Covance expects to complete construction by January 2011. It plans to relocate about 450 employees from its existing Virginia-based operations (in Vienna and Chantilly) to the new facility by the end of that year and to hire an additional 100 staff by 2014. Planned investment for the project is approximately $175 million. Covance expects to receive $3.7 million in combined financial incentives from the Commonwealth of Virginia and Prince William County.
The County’s 1,500-acre business and technology park is located on the life science campus of George Mason University in Manassas, near Dulles International Airport. Founded in 1992, the park focuses on biotechnology, life science and supporting industries. Covance has been present in Northern Virginia for 60 years. Article submitted by www.jobs4dd.com - latest news and jobs for the drug development and biopharm industries.
