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$175M Buys NoVa Drug Manufacturing Facility

PRINCE WILLIAM COUNTY, VA-The state and county are also kicking in money in the form of incentives, with Covance receiving $3.7 million.

By Erika Morphy | Updated on November 27, 2007

PRINCE WILLIAM COUNTY, VA-Princeton, NJ-headquartered Covance is consolidating its Northern Virginia operations in Prince William County’s Technology Park. It has acquired a partially constructed manufacturing facility for $175 million from Eli Lilly. Plans call for the development of a 410,000-sf drug development lab that conducts safety testing and chemistry analysis.

Virginia and the county have chipped in to encourage Covance’s investment: the firm expects to receive approximately $3.7 million in combined financial incentives from the Commonwealth and Prince William County. In return, Covance plans to hire an additional 100 employees in the state by 2014. Its plans also call for the relocation of approximately 450 employees from existing operations in Vienna and Chantilly by 2011.

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