Incyte Chooses to Grow in Delaware with Investment in New Wilmington Site

In a significant boost to Wilmington’s downtown area, Incyte, a Delaware-founded global biopharmaceutical company, announced its decision to expand within the city. This move will see the relocation of over 300 jobs from Pennsylvania and the creation of space for more than 500 new positions in the future, further revitalizing the area.

Expansion Details

Incyte has purchased the Bracebridge I and Bracebridge III buildings at King and French streets in downtown Wilmington. Originally built in the mid-1990s for MBNA and later used by Bank of America, these buildings have been vacant since the bank’s merger in 2006. The company plans to renovate the 517,307 square feet of space, starting with Bracebridge I, nearly doubling Incyte’s footprint in Delaware. This new space will accommodate more than 300 employees from Chadds Ford, Pennsylvania, and allow for significant future growth.

Governor John Carney’s Statement

Governor John Carney expressed his enthusiasm, stating, “Incyte’s decision to move their headquarters to downtown Wilmington is not only a big deal for the city – it’s a big deal for our state. Incyte is a Delaware success story. Incyte grew out of its space at the DuPont Experimental Station and moved hundreds of employees into a renovated headquarters at Augustine Cut Off. Not only does this announcement mean more great jobs in our state – but it means that there is more opportunity for Incyte to keep doing good in our community and across the world. Incyte’s research makes a huge difference in peoples’ lives. We couldn’t be prouder to call them a Delaware-grown company and we’re excited about their next chapter. I want to thank Incyte’s leadership for their commitment to Delaware.”

Incyte’s Growth and Impact

Founded in Delaware in 2002, Incyte has steadily grown over the last 22 years, establishing its European headquarters in Switzerland and maintaining offices in other European locations, Asia, and Canada. Since 2014, its global headquarters has been located just outside Wilmington in Alapocas, which currently houses the company’s corporate and research and development teams.

Benefits of the Expansion

The move to downtown Wilmington will bring numerous benefits. Vacated office space at the Alapocas campus will be converted into much-needed lab space, accommodating the company’s projected future growth. Wilmington will also see a reduction in office vacancy and an influx of new jobs with annual salaries ranging from $90,000 to over $200,000.

“I am extremely pleased to welcome Incyte to Wilmington, a city historically known as the home of corporate innovation, creativity and development,” said Wilmington Mayor Mike Purzycki. “Incyte is a company with motivated leadership that is addressing complex health needs throughout the world. And now, that important work will be conducted from an expanded company location in our city, and we couldn’t be more excited. In addition to enhancing the Wilmington business community, Incyte will provide a wonderful boost to our local economy. I offer thanks and appreciation from our entire city to Chief Executive Officer Hervé Hoppenot and the Incyte team and Governor John Carney and the state team for working with the city to make this happen.”

Incyte’s Commitment to Delaware

Incyte’s CEO Hervé Hoppenot shared his excitement: “Delaware has been our home for more than 20 years, and we are looking forward to expanding our operations in Wilmington and continuing to grow our company here. We are grateful to the continued support of the state, the city and others, including DPP, who have supported our company and fostered innovation and growth in our region.”

Support and Funding

The Delaware Prosperity Partnership (DPP) worked closely with Incyte, the State of Delaware, and the City of Wilmington to explore expansion sites. DPP supported Incyte’s request for a Jobs Performance Grant of up to $9,177,075 and a Graduated Lab Space Grant of up to $5,670,000 from the Delaware Strategic Fund. These grants, totaling up to $14,787,075, are contingent upon Incyte meeting specific commitments reviewed and approved by the Council on Development Finance (CDF).

Rod Ward, co-chair of DPP’s Board of Directors, remarked, “Incyte has been an innovative pillar of the Delaware business community since it was founded here in 2002, and Delaware Prosperity Partnership is pleased to support the company’s expansion into downtown Wilmington. New jobs and capital investment of this project’s magnitude will provide a tremendous boost for the city and create opportunities that will benefit many Delaware families along with the community at large.”

For more information about Incyte, visit their official website.

For details on the Delaware Prosperity Partnership, click here.

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