Gaithersburg, Maryland-based Novavax, one of several companies advancing a potential COVID-19 vaccine, will open a new research and development and manufacturing facility in Gaithersburg, and will add at least 400 new jobs, the majority of them by next spring.
Novavax currently has 450 employees worldwide, including 142 at its current Gaithersburg location.
The new, 122,000-square-foot facility is at 700 Quince Orchard Road in Gaithersburg. The company has purchased nearby land for additional expansion.
The company said it will add most of the positions by March, and the rest by December 2024.
Novavax is getting more than $2.7 million in loan, grant and tax incentives. The money includes a $2 million conditional loan from the Maryland Department of Commerce, a $200,000 training grant from Maryland’s Partnership for Workforce Quality, a $500,000 conditional grant from Montgomery County and a grant of up to $50,000 from the City of Gaithersburg’s Economic Development Opportunity Fund.
Gaithersburg has expedited the planning approval process for the new facility.
Novavax was awarded up to $1.6 billion through the federal government’s Operation Warp Speed program supporting companies that are developing COVID-19 vaccine candidates. It also received $388 million from the International Coalition for Epidemic preparedness Innovations and $60 million through a U.S. Department of Defense contract for vaccine production.
Novavax’s COVID-19 vaccine candidate is in late-stage human trials in the U.K. and it will start Phase 3 human trials in the U.S. and Mexico this month.
It has committed to deliver 100 million vaccine doses as early as late 2020.
“Our swift response in developing one of the world’s most promising vaccines for this pandemic reflects the value of our close regional relationships, and we appreciate the support from the State, County and City has we work to expand rapidly to fulfill our mission, which is more important today than ever,” Novsvac CEO Stanley Erck said in a statement.
“The work that Novavax is doing, right here in Maryland, will impact millions around the world as we continue on the road to recovery from this global pandemic.” said Maryland Gov. Larry Hogan.