RESEARCH TRIANGLE PARK, N.C. (WTVD) -- North Carolina Department of Commerce announced Monday that a biotechnology company excelling in gene therapy would be investing in the area.
AveXis is a company that has created gene therapy treatments for rare genetic disorders. The company is looking to expand its footprint in Durham.
"North Carolina's expertise in the life sciences continues to lead the nation," Gov. Roy Cooper said. "Pioneering companies like AveXis keep our state at the forefront of promising new approaches like gene therapy, which opens up new ways for us to tackle tough diseases."
RTP officials said the investment would increase the state's economy by $1.3 billion.
AveXis plans to invest around $60 million and create 200 new jobs. Those jobs will have an average wage of approximately $73,000.
Many of the jobs will require bachelor's degrees but not all of them. Manufacturing jobs that will be created will not require bachelor's degrees and will pay more than $40,000 per year.
All the jobs for the facility are expected to be filled by 2020.
AveXis is headquartered in Bannockburn, Illinois.
"Our primary focus is to bring gene therapies to patients suffering from devastating rare neurological genetic diseases, such as SMA, genetic amyotrophic lateral sclerosis and Rett syndrome. Continued investment in our infrastructure in North Carolina will allow us to manufacture multiple gene therapies simultaneously, helping us reach more patients, faster," said Andy Stober, Senior Vice President of Technical Operations and Chief Technical Officer, AveXis. "Gene therapy manufacturing requires a highly skilled team, and Research Triangle Park is an ideal location for our continued expansion as it enables us to recruit top talent, including through partnership with local schools and colleges."
RTP announces $60M investment that will bring 200 jobs