AstraZeneca increases stake, breaks ground on $4.5 billion Virginia pharmaceutical plant

AstraZeneca held a groundbreaking ceremony for a new pharmaceutical factory in Albermale, Virginia October 10. In statements, the pharmaceutical giant also said it would spend a total of $4.5 billion, $500 million more than its initial July announcement had accounted for, and the largest such investment in company history.

The new factory is expected to directly create 600 jobs, the company said.

Workers at the new factory will produce weight-loss drug compounds as well as cancer treatments. Initial plans for the factory included plans to produce drug substance for AstraZeneca’s weight-loss drugs, including an oral GLP-1 drug similar to Ozempic: In its October 10 announcement, the company said the extra $500 million added to previous plans would let the factory also produce AstraZeneca’s antibody drug conjugate cancer treatment.

Though company and state releases noted the Virginia Economic Development Partnership and other state groups worked to secure the product in Virginia, no state officials announced any tax incentives for AstraZeneca in exchange for building the site.

What people are saying

“With our $4.5 billion investment in Virginia, the largest in AstraZeneca’s history, we are not only building a state-of-the-art manufacturing facility, but also driving life sciences innovation and economic growth,” said AstraZeneca CEO Pascal Soirot. “This new facility will create thousands of jobs and strengthen America’s national security and health sovereignty. I also want to thank Governor Youngkin and his team for their energy and vision. We have found in Virginia an amazing team that moves at incredible speed to build a better future for this Commonwealth and the American people.”

“AstraZeneca’s $4.5 billion investment is the largest in the company’s history and a game-changer for American drug manufacturing. The investment is set to create 3,600 jobs in Virginia, strengthening America’s ability to produce life-saving medicines,” said Virginia Governor Glenn Youngkin. “Thanks to programs like the Virginia Business Ready Sites Program and the Virginia Talent Accelerator Program, AstraZeneca is going to be able to hit the ground running. That means better jobs, better medicine, and better opportunities for the people of Virginia.”

“We cannot truly be a wealthy nation without being a healthy nation,” said Medicare and Medicaid Services Administrator Dr. Mehmet Oz. “I congratulate AstraZeneca for their investment and invite other foreign manufacturers to follow suit.”

Manufacturers investing in Virginia

Dover Food Retail Co. spends $20M to relocate manufacturing to Virginia
The company's Anthony brand of grocery store refrigerators is moving into to another Dover brand's factory.

Eli Lilly and Company invests $5 billion to build pharmaceutical manufacturing facility in Virginia
The new site will be the company’s first dedicated, fully integrated active pharmaceutical ingredient (API) and drug product facility for bioconjugates and monoclonal antibodies.

Micron Technology invests $30B to expand memory manufacturing facilities in Idaho and Virginia
The expanded production will help meet increasing demand driven by AI and support Micron’s goal of producing 40% of its DRAM in the U.S.

Investing in American manufacturing in 2025 

This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.