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Stock impact report

Biotech firm promised jobs at an old Morrisville mall. It just lost its incentive. [Yahoo! Finance]

Laboratory Corporation of America Holdings (LH) 
Last laboratory corporation of america holdings earnings: 4/29 06:53 am Check Earnings Report
Company Research Source: Yahoo! Finance
The North Carolina Economic Investment Committee canceled the 2021 job development investment grant for Invitae Corp. to hire 374 people at a new Wake County testing and laboratory site. Invitae could have received up to $6.7 million in tax benefits had it reached its hiring target and invested $114.6 million locally. Instead, the California company received no state dollars as it spent much of last year going through bankruptcy. After filing for Chapter 11 in February 2024, Invitae agreed to be sold to the clinical lab-services giant Labcorp., which is based in the Alamance County city of Burlington. State and local leaders had initially celebrated Invitae's arrival. Four years ago, the then-public company promised to pay Triangle workers average salaries of $91,176 and be one of the first businesses to enter The Stitch, a life science redevelopment at the old Morrisville Outlet Mall off Airport Boulevard. Invitae signed a 14-year lease at The Stitch in 2021 but is no longer a Show less Read more
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