Durham-based drug researcher Quintiles Transnational easily met the job-creation requirements of its state incentives package and was awarded $299,000 at a meeting this morning of the N.C. Commerce Department's Economic Investment Committee.
Citing the state's budget woes, Quintiles asked that its payment be deferred until June. The committee readily agreed.
Quintiles was required to have retained its existing 1,123 jobs and created at least 116 new jobs that paid at least $58,800. The company has created 392 jobs that pay on average nearly $81,000.
The company has already invested $51 million in its headquarters in the Imperial Center business park off Interstate 40 at Page Road. The company's state grant package requires that it invest $54 million by 2012.
Quintiles could receive a maximum of $21.4 million from its 12-year grant from the state, which was awarded in 2006. State incentives made up the bulk of a $25 million package that was offered to Quintiles to keep them in Durham.
Quintiles employs more than 1,700 people in the Triangle and about 23,000 worldwide. The company is the largest contract drug research company in the world.