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Incyte will acquire two former MBNA/Bank of America buildings at 1100 North King Street and 1100 North French Street for headquarters use.
The state will issue a $14.7 million strategic grant contingent on Incyte meeting employment and other goals.
This acquisition marks Incyte’s fourth expansion in Delaware since establishing operations in Alapocas in 2014. The new buildings will allow the company’s U.S.-based teams to operate in one location.
“We are thrilled to reinforce our ongoing commitment to Delaware by expanding our presence here. The acquisition of these new buildings will allow our U.S. commercial and medical affairs teams to return to Delaware, enable closer collaboration between our teams and provide capacity for growth in the future,” said Hervé Hoppenot, CEO of Incyte. “We want to extend our thanks to Gov. Carney and (Wilmington) Mayor Purzycki for supporting this effort; and to U.S. Sens. Carper and Coons and U.S. Representative Blunt Rochester for ensuring that Delaware is an environment that encourages growth and innovation. We look forward to many more years in our home state and to contributing to the success of the downtown Wilmington community.”
“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,” said Carney. “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 people’s 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.”
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The new building on King Street, expected to open in 2026, will initially house more than 400 employees including the company’s U.S. Oncology and Dermatology teams currently located in Chadds Ford, PA, as well as global corporate employees currently located at the Augustine Cut-off campus. The company’s research and development and technical operations teams will remain at their current location on Augustine Cut-off in Alapocas, just outside the Wimington city limits. The North French Street building will be used for future expansion.
“I am extremely pleased to welcome Incyte to Wilmington, a city historically known as the home of corporate innovation, creativity and development,” said 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.”
incite employs more than 2,500 people across North America, Europe , and Asia, with approximately 1,200 people currently based in Wilmington and Chadds Ford, PA.
Incyte was founded in Delaware in 2002 and has grown steadily over the last 22 years. The company has its European headquarters in Switzerland and maintains commercial operations and offices in other European locales as well as in Asia and Canada. Since 2014, Incyte’s global headquarters has been a former Wanamaker’s department store site just outside the Wilmington city limits in Alapocas. That location, which has been expanded to include three buildings, currently houses the company’s corporate and research and development teams.
Expanding its offices to downtown Wilmington will create numerous benefits for Incyte – vacated office space at the Alapocas campus will be converted into lab space and will accommodate the company’s projected future growth.
Initial plans to buy a portion of the campus of the nearby Wilmington Friends School for expansion in Alapocas ran into heated opposition, with the company withdrawing its plans.
“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,” said Incyte CEO Hoppenot. “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.”
The Delaware Prosperity Partnership worked with Incyte, the State of Delaware, the City of Wilmington and other partners – to explore Delaware sites for expansion. DPP also supported the company’s request to the Council on Development Finance 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.
“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,” said Rod Ward, co-chair of DPP’s Board of Directors. “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.”
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Source: delawarebusinessnow.com
