What's Happening?
Biotech company Amgen is investing $600 million to build a new research center at its Thousand Oaks campus in Ventura County. The new facility will create hundreds of jobs and feature advanced automation and digital capabilities. This investment is part of Amgen's strategy to enhance its research and development operations, which are spread across multiple locations in the United States, Canada, and Europe. The company, founded in 1980, is recognized as a pioneer in biotechnology, focusing on developing medicines for cancer, heart disease, osteoporosis, and other rare diseases. Amgen employs 28,000 people worldwide, with 5,500 based in Ventura County, and reported over $33 billion in revenue last year.
Why It's Important?
Amgen's investment in the new research center represents one of the largest single-project economic development initiatives in Ventura County. The facility will bolster Amgen's capabilities in biotechnology research, potentially leading to breakthroughs in medicine that could benefit patients globally. The creation of hundreds of jobs will also have a positive impact on the local economy, providing employment opportunities and stimulating economic growth. Additionally, the advanced automation and digital capabilities of the new center will enhance Amgen's research efficiency and innovation potential, reinforcing its position as a leader in the biotech industry.
What's Next?
Construction of the new research center is expected to begin in the third quarter of this year. As Amgen expands its research capabilities, it may continue to invest in other facilities, as evidenced by its recent $1-billion manufacturing facility in North Carolina and a $950-million expansion in Ohio. The company will likely focus on leveraging its new center to advance scientific discovery and develop new medicines, potentially leading to collaborations with other biotech firms and research institutions.
