Fujifilm biotech firm plans $2 billion plant
A subsidiary of Japanese conglomerate Fujifilm Holdings Corp. said Thursday that it will open a massive biopharmaceutical manufacturing plant in central North Carolina in 2025, ultimately creating 725 new jobs.
Fujifilm Diosynth Biotechnologies and government officials announced the overall $2 billion project in Holly Springs, just south of Raleigh, for what’s being billed as the largest end-to-end biopharmaceutical manufacturing facility in North America. The company manufactures drugs and vaccines for other pharmaceutical companies.
Fujifilm Diosynth Biotechnologies, which has a campus in nearby Research Triangle Park and employs more than 600 people, chose the Wake County site over building the plant in Texas, according to the state Commerce Department. The company already has locations in College Station, Texas, the United Kingdom and Denmark.
Fujifilm could receive a maximum of $33.5 million in state grants and training as part of the deal, according to information presented at a meeting Thursday of state officials that approve economic incentive proposals.
30-year mortgages rise above 3 percent
U.S. long-term mortgage rates continued to edge higher this week as the benchmark 30-year loan stayed above the 3% mark. Rates remain near historic lows, however.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year fixed-rate home loan rose to 3.09% from 3.05% last week. By contrast, the benchmark rate stood at 3.65% a year ago.
The average rate on 15-year fixed-rate loans, popular among those seeking to refinance their mortgages, increased to 2.40% from 2.38% last week.
Unemployment claims up despite uptick in market
The number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession.
Thursday’s report from the Labor Department showed that jobless claims climbed from 725,000 the week before. The numbers have dropped sharply since the depths of the recession last spring but still show that employers in some industries continue to lay off workers. Before the pandemic struck, applications for unemployment aid had never topped 700,000 in any one week.
In Tennessee last week, the number of new jobless claims rose by 173 from the previous week to 7,580, including 367 new claims in Hamiton County and 158 new claims in Bradley County. In Georgia, initial unemployment claims fell last week by 274 to 24,700.
“Labor market strains are ongoing, but we expect filings (for unemployment aid) to start declining as restrictions are lifted and more normal operations resume,” Rubeela Farooqi, chief U.S. economist at High Frequency Economics, said in a research note. “As businesses return to full capacity, job and income prospects will improve and, combined with fiscal support, will provide a powerful lift to the economy.”
JetBue Airways may move HQ to Florida
JetBlue Airways is considering whether to stay in New York, where it was founded two decades ago, or move its headquarters to Florida.
A spokeswoman for the airline said Thursday that a decision is expected later this year.
The airline said in a statement that its current lease in Long Island City, across the East River from Manhattan, expires in July 2023 and it is reviewing its options “and considering how our space requirements may evolve in a hybrid work environment post-pandemic.”
JetBlue said it is exploring a number of paths, including staying in its current headquarters, moving elsewhere in New York City, or shifting some New York-based jobs to existing JetBlue facilities in Florida. The airline has a training center in Orlando and a travel-products subsidiary in Fort Lauderdale.
The airline said that no matter what it decides about the headquarters, it still plans to expand at all three New York City-area major airports.