Board approves business‑development agreement with Genentech for Holly Springs facility

The Wake County Board of Commissioners voted Sept. 15 to approve, in principle, a business‑development grant agreement with Genentech for a planned drug‑manufacturing facility in Holly Springs.

County staff said the Genentech project (Project Apollo 11) will construct a roughly 700,000‑square‑foot fill‑finished drug manufacturing facility on a Holly Springs site near Friendship Road adjacent to an existing Amgen campus. The company plans to invest approximately $700 million and to create about 420 jobs with average wages above $100,000, according to the presentation by county staff.

County staff summarized the draft agreement before the board: to qualify, Genentech must increase assessed tax valuation by at least $350 million (county presentation referenced a target date through early 2030), create at least 378 new jobs by a stated deadline and meet an average wage threshold (the county presentation said approximately $107,008.50). The proposed incentive structure is a 10‑year agreement with an 80% grant‑back of new tax revenue in years 1–5 if performance conditions are met, and 20% grant‑back in years 6–10. Genentech has also agreed to pursue the county’s “upward mobility” bonus, which requires non‑discrimination, offering affordable health insurance and leave policies, and at least two employee supports (examples include childcare subsidies, transportation or education assistance and second‑chance hiring practices).

The project also involves coordinating incentives among multiple jurisdictions: the town of Holly Springs has approved a town investment agreement and the state is pursuing a Job Development Investment Grant. Michael James, staff with the county manager’s office, presented the item and noted the town and state participation.

After a public hearing with no public speakers on the item, the board voted to approve the agreement subject to final terms acceptable to the county attorney. Commissioner Jackson moved approval and Commissioner Stallings seconded; the motion carried by voice vote. The presentation included no specific dollar‑value cash grant from the county; the incentive is structured as a share of new tax revenue returned to the company under the agreement’s terms.