Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) formally announced today that Agilent, an American life sciences company, has selected Frederick, Colorado in Weld County for expansion. Agilent is a global leader in life science research, patient diagnostics and testing that ensures the safety of water, food and pharmaceuticals. By expanding in Colorado, the company will help advance a bioscience and life sciences sector that is among the best in the nation.
“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,” said Gov. Polis.
Within Colorado, the bioscience and life sciences sector generates $12.3 billion in annual sales and directly employs over 32,000 workers. Employment grew over 34% between 2010 and 2019. By selecting Frederick for expansion, where Agilent currently has a production facility, the company will position itself to keep pace with rapid growth and be an integral part of this important, growing sector of Colorado’s economy. It will also enable the company to tap into Colorado’s talented life sciences workforce and build upon existing supply chain networks and community relationships.
“Agilent’s presence in Colorado is an important element of our focus on supporting high-growth businesses and the customers we serve,” said Mike McMullen, Agilent President and CEO. “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.”
Agilent plans to invest approximately $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 cutting-edge CRISPR technology capacity to guide the RNA programs in this facility. The expansion will create many new positions, including 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. These jobs are expected to have an average annual wage of over $100,000.
“With over 700 employees already in Colorado, Agilent has shown itself to be a leader in life sciences and an important employer in Frederick. This project once again demonstrates the power of partnership, as company leaders, the State of Colorado and local partners came together to make this expansion possible, grow our state’s economy and bring new jobs to Coloradans,” said Eve Lieberman, Executive Director of OEDIT.
“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. 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,” said Tracie Crites, Frederick Mayor.
“Agilent’s expansion reinforces the confidence businesses have in the competitive advantages of Weld County and Northern Colorado. They join a growing list of companies choosing the region for its talented workforce, business-friendly environment, and demonstrated regional support. Agilent’s continued investment in the region not only expands an already successful business, but creates quality, high paying jobs and contributes to our thriving business community in Northern Colorado,” said Mike Freeman, Chair of the Weld County Commissioners.
The Colorado Economic Development Commission approved up to $1,787,500 in a performance-based Strategic Fund incentive over a 5-year period, at $6,500 per net new job.
These incentives are contingent upon Agilent, referred to as Project Olive throughout the OEDIT review process, meeting net new job creation and salary requirements as well as local match incentives. The Town of Frederick and Weld County have contributed to a local incentive package that will exceed $9,387,123 over a ten-year period.
Agilent, headquartered in California, currently has 17,000 employees, more than 700 of whom are in Colorado. In addition to Frederick, the company considered Raleigh, North Carolina, for expansion