An American life services company is expanding in Frederick, bringing many new positions with annual wages over $100,000.
Gov. Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade announced that Agilent had selected the town east of Longmont for expansion.
Agilent is a global leader in life science research, patient diagnostics and testing of water, food and pharmaceuticals. Headquartered in California, Agilent has over 17,000 employees including more than 700 in Colorado.
“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,” Polis said in a release.
The bioscience and life services sector generates $12.3 billion in annual sales throughout the state with 32,000 workers in Colorado. Employment in the sector grew over 34% from 2010 to 2019.
Agilent currently has a production factory in Frederick and, with the expansion, plans to keep pace with this rapid growth while building upon the state’s life sciences workforce and existing supply chain networks.
“Agilent’s presence in Colorado is an important element of our focus on supporting high-growth businesses and the customers we serve,” Agilent President and CEO Mike McMullen said. “The resources, talent and support we have in the state have helped and will continue to help us achieve our long-term growth objectives. 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.”
The Colorado Economic Development Commission approved up to $1.8 million in a performance-based strategic fund incentive over a five year period for Agilent, at $6,500 per net new job. These incentives are contingent upon the company meeting net new job creation and salary requirements as well as local match incentives.
Frederick and Weld County have also contributed to a local incentive package that will exceed $9.4 million over a 10-year period.
According to the release, the company plans to invest $725 million in Frederick to double its manufacturing capacity of therapeutic nucleic acids, or short DNA and RNA molecules, that help target a growing number of diseases including cancer, cardiovascular disease and rare and infectious diseases.
Agilent will also add CRISPR technology capacity to guide the RNA programs in the facility. New positions include manufacturing and research and development chemists, facilities and maintenance engineers, quality assurance and control specialists, technical engineers and writers, and supply chain and project managers with annual wages expected to be over $100,000.
“The Town of Frederick is proud to be home to a state-of-the-art facility that is committed to advancing quality of life through life science research,” Frederick Mayor Tracie Crites said. “Bettering lives and creating community vitality are paramount to what Frederick is built on. We congratulate Agilent’s success and look forward to their thriving future in our community.”