LifeNet Health to Expand Global Headquarters in Virginia Beach
August 14, 2017
Governor McAuliffe Announces 321 New Jobs in Growing Biotechnology Sector and $12.25 Million Investment LifeNet Health, the top organ procurement organization and tissue processor in the world, will invest $12.25 million to expand its global headquarters operation in Virginia Beach. The company will expand in three additional locations throughout the City and add 321 jobs, which will make it one of the top employers in Virginia Beach. LifeNet Health currently has four locations in Virginia Beach. The expansion will add an 18,000-square-foot R&D facility, 20,000 square feet of office space and a 100,000-square-foot warehouse across three campuses bringing LifeNet Health's total investment in Virginia Beach to more than $70 million. Demand for the company's products and technologies is driving the need for additional research and production space. These new facilities will also create additional space within the headquarters campus for continued growth. Virginia successfully competed against Florida, North Carolina and Washington for the project.LifeNet Health, which celebrates its 35th anniversary this year, helps save lives, restore health, and give hope to hundreds of thousands each year through organ and tissue transplantation. It is the world's most trusted provider of transplant solutions — from organ procurement to bio-implants and cellular therapies — and a leader in regenerative medicine, while always honoring the donors and healthcare professionals who enable healing. The company's current headquarters campus is located in the VABeachBio corridor, a medical and higher education hub. In addition to LifeNet Health, the corridor is home to Sentara Princess Anne Hospital, Operation Smile, Tidewater Community College, the VABeachBio Accelerator, the Virginia Beach Advanced Technology Center, the Governor's STEM & Technology Academy, and the ODU/Norfolk State Virginia Beach Higher Education Center. Plans are also underway to develop the 155-acre VABeachBio Innovation Park. For more information, visit www.vabeachbio.com. Governor Terry McAuliffe made the announcement with Mayor Sessoms at LifeNet Heath's headquarters. The announcement is the Governor's 1,000th economic development project announcement and an indicator of the success of Mayor's Sessom's Bio Task Force initiative. "Virginia Beach is so fortunate to have strong corporations anchoring our key economic sectors, and LifeNet Health has led the way in health care and bio sciences for more than three decades," said Mayor Will Sessoms. "Adding another 321 jobs provides a major boost, not just to the company, but to our local economy and our continuing efforts to establish Virginia Beach as a national center for bio sciences. Congratulations to Rony Thomas and everyone at LifeNet Health for achieving yet another milestone in your company's history.""LifeNet Health has been an important driver of the Commonwealth's growing biotechnology field for more than 30 years, and has helped anchor the foundation for the robust Princess Anne Commons biomedical cluster in Virginia Beach," said Governor McAuliffe. "The Commonwealth's life sciences sector is fueled by a unique combination of renowned research universities and institutes, international companies, major manufacturers and innovative startups, and plays an important role in our efforts to diversify and build the new Virginia economy. LifeNet Health continues to grow its significant presence in Hampton Roads, adding hundreds of 21st century jobs, and we are honored that this global company that saves lives calls the Commonwealth home.""We continue to pioneer state-of-the-art technologies that are in the forefront of regenerative medicine, touching hundreds of thousands of lives around the world," said LifeNet Health President and CEO Rony Thomas. "We are proud to have the support of the Commonwealth and the City in this strategic expansion, which will establish Virginia Beach as a bioscience leader.""This firmly establishes Virginia Beach's presence as a thriving biotechnology hub," said Virginia Beach Economic Development Director Warren D. Harris. "We could not have a better partner than LifeNet Health in achieving our goals to put Virginia Beach and frankly the Commonwealth of Virginia as an integral player in the biotech field."The Virginia Economic Development Partnership worked with the City of Virginia Beach to secure the project for Virginia. Governor McAuliffe approved a $700,000 grant from the Commonwealth's Opportunity Fund to assist the City with the project. The Virginia Beach Development Authority is scheduled to approve a matching $700,000 Economic Development Investment Program grant based on the capital investment and jobs created. Additionally, a $288,900 Virginia Jobs Investment Program grant was awarded based on job creation bringing the total economic development incentive package to $1,688,900. LifeNet Health opened its headquarters in Virginia Beach in 1982. To help meet the growing demand for tissue throughout the country — and the world — LifeNet Health established a presence in the Pacific Northwest in 2012. LifeNet Health established its European headquarters in Austria in 2017, creating a center of excellence to offer education and training around the use of allograft surgical solutions. For more information, go to www.LifeNetHealth.org. The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs. Virginia Beach is the most populous city in Virginia with a population of 450,000, and it is the 37th largest in the United States. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2016 and is one of only 50 economic development organizations in the world to have this recognition. Most recently, Virginia Beach was named America's #1 best big city to live in by wallethub.com. For more information, visit www.yesvirginiabeach.com.LifeNet Health Expands
