Home » Thermo Fisher Scientific to invest $59 million with Campbell Co. expansion

Thermo Fisher Scientific to invest $59 million with Campbell Co. expansion

FRANKFORT, Ky. — PPD clinical research business of Thermo Fisher Scientific Inc. announced it will create 200 full-time jobs, including at least 140 Kentucky resident positions, through a $59 million expansion of the company’s facility in Campbell County.

Thermo Fisher will expand and renovate its central lab on Tesseneer Drive in Highland Heights, adding 43,000 square feet to provide increased testing of pharmaceutical products. The project will bring the total available space in the facility to more than 114,000 square feet. Company leaders anticipate breaking ground by the end of the first quarter of next year and expect to complete the project in stages by year-end 2024. New jobs created through the project will include Ph.D.-level scientists, analytical laboratory staff and other scientific professionals.

“We are proud of our 20-year relationship with the people and businesses of this region, which provides an attractive place for our colleagues to live and work,” said David M. Johnston, Ph.D., senior vice president and president, clinical research, Thermo Fisher Scientific. “We have developed a strong collaborative partnership with the Commonwealth of Kentucky, Campbell County and the City of Highland Heights. Investing in clinical research is essential to delivering on our mission to enable our customers to make the world healthier, cleaner and safer.”

Operating in Kentucky since 2002, the PPD clinical research business is a global leader of clinical research services. In December 2021, the business was acquired by Thermo Fisher Scientific. The company’s clinical research business has conducted trials in more than 100 countries and currently employs close to 650 people at the Highland Heights location, including nearly 300 Kentucky residents.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with Thermo Fisher under the Kentucky Business Investment program. The performance-based agreement can provide up to $4 million in tax incentives based on the company’s investment of $59 million and annual targets of:

  • Creation and maintenance of 140 Kentucky-resident, full-time jobs across 10 years; and
  • Paying an average hourly wage of $41 including benefits across those jobs.

Additionally, KEDFA approved the company for up to $500,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Thermo Fisher can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

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