FMC’s Global Research and Development Headquarters in Newark is about to get more state-of-the art, as the agricultural sciences company plans to invest $50 million over three years into upgrading the space, including reconfiguration of a greenhouse and research facility.
FMC made its biggest transaction to date when it acquired the 515-acre Stine Research Center campus as part of its acquisition of a portion of DuPont’s crop protection business in 2017. More than 500 jobs were retained in Delaware thanks to the transaction, and 19 new positions were created.
“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, in a press statement. “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.”
On top of FMC’s own investment, contingent upon meeting employment benchmarks, the Council for Development Finance (CDF) approved a grant for $1,642,500 from the Delaware Strategic Fund, including $142,500 for a performance grant and $1.5 million for a capital expenditure grant.-30-
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