FMC Corporation plans $50 million investment in Newark HQ
FMC Corporation, an agricultural sciences company, plans to invest more than $50 million over the next three years in capital improvement projects, including a new greenhouse and research facility at the company’s Global Research and Development headquarters in Newark, Delaware.
The Philadelphia-based company purchased the Stine Research Center campus as part of its acquisition of a portion of DuPont’s crop protection business in 2017. The transaction retained more than 500 jobs in Delaware, transferred 45 employees from a nearby state, and created 19 new positions.
“FMC is making a significant new investment in Delaware, and in a campus that has long been a center of world-class biotechnology and agriscience research,” said Gov. John Carney. “This investment in Newark will support good-paying jobs for Delawareans and their families, and the continued growth of our state’s economy.”
FMC plans to reconfigure an existing structure at the facility to enhance its global research and development (R&D) efforts. In support of the project, the company plans to hire 13 employees over the next three years, which would bring its total of full-time R&D employees at the Delaware campus to approximately 375. The new positions include professional scientists and skilled associates, adding approximately $1.3 million to its annual payroll. The site’s total workforce of nearly 600 includes support staff and contractors.
“We will invest nearly $2 billion in research and development through 2023 as a cornerstone of FMC’s long-term growth strategy,” said Mark Douglas, president and chief operating officer. “FMC employees at the Stine Research Center will lead much of this critical discovery and development work to serve our global business and customers. We’re pleased to partner with the State of Delaware to further our investment in the area.”
The project is supported by a $1,642,500 grant from the Council for Development Finance. Drawn from the Delaware Strategic Fund, the money includes a $142,500 performance grant and $1.5 million capital expenditure grant. Each grant will be provided over a three-year period. Employers must meet employment benchmarks to receive the funds.
“It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none,” said Carney. “And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”