Menlo Park, Calif.-based GRAIL plans to invest $100 million and over time create 398 new jobs in Durham.
The company is looking to bring a new laboratory with office and warehouse space to North Carolina’s Research Triangle Park.
GRAIL has developed a testing approach supported by evidence from a population-scale clinical study program believed to be the largest ever conducted in genomic medicine. The company is working urgently to revolutionize cancer detection.
GRAIL’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee earlier today. Over the course of 12 years, the project is estimated to grow the state’s economy by $1.2 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the agreement authorizes the potential reimbursement to the company of up to $5.2 million over 12 years.