LifeNet Health, a global regenerative medicine company, has announced that it will invest $12.25 million to expand its global headquarters operation in the City of Virginia Beach. The non-profit 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. Virginia successfully competed against Florida, North Carolina, and Washington for the project, which will create 321 new jobs.
“LifeNet Health has been an important driver of the Commonwealth’s growing biotechnology field for more than 30 years helping anchor the foundation for the robust Princess Anne Commons biomedical cluster in Virginia Beach, and I’m pleased to recognize this company as the 1,000th project announcement during my time in office,” said Governor McAuliffe. “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.”
LifeNet Health celebrates its 35th anniversary this year. From organ procurement to bio-implants and cellular therapies, LifeNet Health is a trusted provider of transplant solutions and a leader in regenerative medicine. Since its founding in 1982, it has grown to employ more than 1,000 people—including 840 in Virginia, more than 770 of which work in Virginia Beach—and helped save or improve millions of lives around the world.
The Virginia Economic Development Partnership worked with the City of Virginia Beach to secure the project for Virginia. Governor McAuliffe approved a $700,000 grant from the Commonwealth’s Opportunity Fund to assist the City with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“Virginia Beach is so fortunate to have strong corporations anchoring our key economic sectors, and LifeNet Health has led the way in health care and bio sciences for more than three decades,” said Virginia Beach Mayor Will Sessoms. “Adding another 321 jobs provides a major boost, not just to the company, but to our local economy and our continuing efforts to establish Virginia Beach as a national center for bio sciences. Congratulations to Rony Thomas and everyone at LifeNet Health for achieving yet another milestone in your company’s history.”