LifeNet to Create Hundred of New Jobs in Virginia Through HQ Expansion
August 18, 2017
By Alex Keown, BioSpace.com Breaking News Staff
VIRGINIA BEACH, Va. – LifeNet will invest $12.25 million to expand its facilities in the coastal community of Virginia Beach and add more than 320 jobs.
LifeNet has four sites across Virginia Beach. The investment the company is making will allow the company to expand into three additional facilities, according to an announcement from Gov. Terry McAuliffe announced this week. According to the announcement, the company will add a 100,000-square-foot warehouse, 20,000 square feet of office space, and an 18,000-square-foot R&D and production facility across three campuses.
Founded in 1982, LifeNet is the world's largest provider of allograft bio-implants and organs for transplantation. The non-profit organization specializes in organ procurement and innovations in bio-implant technologies. Since the non-profit was founded 35 years ago, it has grown to employ more than 1,000 people – including 840 in Virginia, more than 770 of which work in Virginia Beach, according to the governor’s statement.
In his statement, McAuliffe described LifeNet as a key linchpin in the Commonwealth of Virginia’s biotechnology and life sciences business sectors.
“The Commonwealth’s life sciences sector is fueled by a unique combination of renowned research universities and institutes, international companies, major manufacturers and innovative startups, and plays an important role in our efforts to diversify and build the new Virginia economy. LifeNet Health continues to grow its significant presence in Hampton Roads, adding hundreds of 21st century jobs, and we are honored that this global company has chosen to advance its life-saving mission here in Virginia,” McAuliffe said in his statement.
The governor’s office said LifeNet was looking at other states to expand its facilities, including North Carolina and Florida, but remained in Virginia. Its decision was likely influenced by the economic incentives provided by state and local resources, including $700,000 from the Virginia Opportunity Fund. Virginia Business reported that local governments will approve an additional $700,000 in matching funds to support the LifeNet expansion. Additionally, another program will kick in $288,900, bringing the total incentive support to $1.6 million, Virginia Business said.
The money will be used to convert the facilities to sterile environments for the handling of human organs and tissues, the Virginia Pilot reported. Jobs the company will be adding at those facilities include research, clinical, administrative and production position.
LifeNet Health President and Chief Executive Officer Rony Thomas said LifeNet continues to “pioneer state-of-the-art technologies that are in the forefront of regenerative medicine, touching hundreds of thousands of lives around the world,” according to a statement in the governor’s announcement.