South Raleigh News

Today, Governor Roy Cooper announced that IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, will establish a new manufacturing plant in Wilson County, creating 275 jobs. The company will invest $147 million in Wilson.

"We are excited to welcome IDEXX to Wilson County and look forward to their success in eastern North Carolina,” said Governor Cooper. “Our state offers the talented workers and workforce training systems that help companies reliably produce the products their customers depend on every day.”

IDEXX, headquartered in Westbrook, Maine, produces veterinary diagnostic and software solutions and provides innovations that help ensure the safety of milk and water globally while maintaining the health of pets, people, and livestock. The project in Wilson will establish a production facility for veterinary diagnostics products.

“North Carolina’s strategic decision to focus on workforce development continues to pay dividends,” said North Carolina Commerce Secretary Machelle Baker Sanders. “We never take for granted the importance of a strong, well-trained workforce, and we will continue to invest in the schools and training programs that deliver results.”

The North Carolina Department of Commerce led the state’s support for IDEXX during its site evaluation and decision-making process.

Although wages will vary depending on the position, the average total compensation for these new positions will be $65,873—higher than Wilson County's current average wage of $52,619. The new positions are expected to bring an annual payroll impact of more than $18 million per year to the community.

IDEXX’s project in North Carolina will be facilitated partly by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the 12-year term of this grant, it is estimated that the project will grow the state’s economy by $1 billion. Using a formula accounting for new tax revenues generated by job creation and capital investment, the JDIG agreement authorizes potential reimbursement to IDEXX of up to $3,872,000 over 12 years. State payments occur only after performance verification by departments of Commerce and Revenue confirming that job creation and investment targets have been met.

The project's projected return on investment of public dollars is 232 percent; meaning for every dollar spent potentially costing taxpayers; the state receives $3.32 in revenue. JDIG projects result in positive net tax revenue even after considering grant reimbursement payments.

“Our region is seeing great momentum in economic development,” said N.C. Senator Buck Newton. “IDEXX’s decision shows people around the world that we’re an ideal location for tomorrow’s global industries.”

“Recruiting industry requires cooperation from many behind-the-scenes players,” said N.C. Representative Ken Fontenot. “Our community is proud to be chosen by a reputable company like IDEXX."

Partnering with North Carolina Department of Commerce were several entities including Economic Development Partnership of North Carolina, North Carolina General Assembly among others.