GlaxoSmithKline Consumer Healthcare will spend $16.7 million to expand its research and development center in Richmond, adding 150 new jobs in the region, according to the governor’s office and the Greater Richmond Partnership.
Gov. Ralph Northam approved $675,000 in public money from the Commonwealth’s Development Opportunity Fund for the project. The fund puts millions at the fingertips of the governor to help close job deals and expansions.
“The Commonwealth of Virginia and the City of Richmond provide an environment for GSK Consumer Healthcare to build leading R&D capabilities, including access to world-class talent and universities, while also offering an attractive cost of living and favorable business operating costs,” said Peter John Ramsey, vice president and head of GSK Consumer Healthcare R&D, The Americas, in a statement.
GlaxoSmithKline and Pfizer reached an agreement last year to combine their consumer health businesses.
The existing research and development facility in Richmond, formerly the global R&D headquarters for Pfizer Consumer Healthcare, will be operated by the new consumer healthcare joint venture.
The facility at 1211 Sherwood Ave. in Richmond will be one of three research and development hubs for the company globally, according to the Greater Richmond Partnership, the Richmond region’s economic development organization.
“GlaxoSmithKline Consumer Healthcare’s strategic decision to invest $16.7 million and add over 150 jobs to expand its research and development presence in Richmond speaks to the city’s strength as an international destination for business and life sciences,” Mayor Levar Stoney said in a statement.