Marrone Bio Innovations will move HQ to Raleigh from CaliforniaDate Published:
Another life science company is relocating its corporate headquarters to the Triangle, as demand for facility space continues to pace at record highs.
The publicly-traded bioagricultural company Marrone Bio Innovations Inc. (NASDAQ: MBII) announced today that it would relocate the company’s corporate headquarters from Davis, California, to Raleigh.
The company noted in its statement that the decision to relocate its corporate headquarters location was made “to support the company’s growing presence in markets outside the United States.”
The company’s research and development operations, and some support functions, will remain based in Davis, Ca., the company noted.
Company CEO Kevin Helash said in the statement that talent was a factor, adding that the company anticipates “tapping into a talent pool” in the Research Triangle region.
North Carolina’s colleges and universities have already been ramping up programs to support careers in life sciences, anticipating the demand for skilled positions in biopharma, life sciences, agriculture, and research and development will continue in 2022 and beyond.
“International expansion is a key element of our long-term growth plans, and this move provides us greater proximity to global markets,” said Helash. “We’re delighted to be part of the rich agricultural technology community in the Research Triangle area, and look forward to deepening our relationships with partners and customers based in the area.”
The company develops and sells biological products for crop protection, plant health, and waterway systems treatment, and it holds a portfolio of more than 400 issued and pending patents, the company’s website states.
It also announced that it had extended the company’s ability to tap a line of credit, and can now access up to $4.5 million to finance its inventory needs, which Helash said will provide the company with greater flexibility as the peak selling season begins.
The company maintains and sells a “platform of pest management and plant health products that are used in agricultural, turf and ornamental, and water treatment applications,” the website reads. “Our solutions help customers around the globe control pests, improve plant health, and increase crop yields while reducing the environmental pesticide load, decreasing chemical residues on food, and fighting the development of pest resistance.”
In December, Science37 announced it would move corporate headquarters to the Triangle, bringing some 250 jobs paying average wages of more than $114,000.
Earlier in 2021, EnviroFlight chose Apex for its corporate headquarters, and the company also planned to move its research and development facility to the region. A year ago, Worldwide Clinical Trials, a CRO, chose to move its corporate headquarters to Research Triangle Park with plans to hire locally, and OakLabs chose the Triangle over Boston for its headquarters.
A 2020 report concluded that agriculture and agtech companies were critical to North Carolina’s future, and SAS and Pappas Capital announced a partnership to boost innovation in the agtech industry in North Carolina in October. WRAL TechWire reported in November 2021 that the Research Triangle already contains more than 100 agricultural technology companies and the state has an opportunity to be a global leader in agtech, particularly in the fight against global hunger. That’s also leading to more venture capital and strategic partnerships in companies based in the region, like the $116 million raised by AgBiome in 2021.
Original Article Source: WRAL TechWire