PPD, the Wilmington-based pharmaceutical research company, plans to expand its operations outside of Richmond, Va., and add 190 jobs there over the next three years.
Virginia Gov. Bob McDonnell announced Friday that the state will give PPD grants worth up to $650,000 if it meets hiring targets.
"This major expansion will continue to position PPD as a strong player in the life sciences industry, a target industry for Henrico County, the Greater Richmond region and the Commonwealth of Virginia," McDonnell said in a prepared statement.
PPD also considered expansion in Wisconsin, said Christie Miller, a spokeswoman for the Virginia Economic Development Partnership. The new jobs will pay annual salaries of $50,000 to $60,000. PPD already employs about 200 people at the site.
PPD, which celebrated its 25th anniversary this summer, has a large Triangle operation with about 1,400 local employees, mostly in Morrisville. The company conducts clinical trials for pharmaceutical companies developing experimental drugs, and provides other services.
It's one of the largest players in the contract research organization industry, which is concentrated in the Triangle. PPD employs more than 10,500 people worldwide.
PPD shares rose 9 cents today to $26.08 and are up 32 percent in the past year.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or