Big shot: Novavax expanding vaccine R & D, 850 new jobs in Gaithersburg
GAITHERSBURG, Md. — Novavax, a clinical stage vaccine company that works to deliver novel products to prevent a broad range of infectious diseases, will expand its presence in Gaithersburg, Maryland. The company will expand its research, development, and clinical trial support operations in Montgomery County.
According to the Maryland Department of Commerce, as part of the expansion Novavax plans to retain its current 400 full-time employees and add up to 850 new jobs to accommodate its growing pipeline of vaccine candidates. Check for Novavax jobs here.
To assist with project costs related to the expansion, the Maryland Department of Commerce has approved a total of $5 million in conditional loans for the three phases of the project through the Maryland Economic Development Assistance Authority and Fund (MEDAAF) program. The loans are based on the company’s job creation and capital expenditure as part of the expansion. Montgomery County has approved a conditional grant of up to $2.5 million and the company is eligible for the county’s New Jobs Tax Credit.
READ MORE of this story at Area Development. Photo courtesy of Novavex.