Thermo Fisher Scientific To Invest Nearly $48 Million, Create 69 Kentucky Jobs With New Facility in Covington

Project expands lab operations, eventually creating 250 jobs across two facilities

FRANKFORT, Ky. (June 27, 2024) – Kentucky Gov. Andy Beshear highlighted further momentum within the state’s health care industry as Thermo Fisher Scientific Inc. announced plans to locate a new lab operation in Covington, investing nearly $48 million and creating 69 additional Kentucky jobs.

“The commonwealth is seeing tremendous growth in its health care and life sciences sectors, providing high-paying, quality jobs for Kentucky residents across the state,” said Gov. Beshear. “I am thrilled to see Thermo Fisher once again choosing Kentucky to locate and expand its business. I look forward to the company’s continued success here in the commonwealth as this investment adds to Northern Kentucky’s economic growth.”

The company plans to expand its central laboratory operations in Kentucky dedicated to accelerating pharmaceutical and biotech customers’ delivery of safe, effective medicines to patients. The PPD clinical research business of Thermo Fischer Scientific will expand its sample management and biorepository operations in a new 65,000-square-foot space in Covington, enabling further capability expansion at its existing site in nearby Highland Heights. Thermo Fisher’s $47.8 million investment is expected to create more than 250 new jobs across the two sites over the next eight years, with renovation and construction anticipated to begin later this year.

The business has operated a central lab operation in Highland Heights since 2002, and today it includes central lab services, biomarker operations, sample management and testing to support new therapeutics, including vaccines and cell and gene therapy products. The renovation of an existing building on West 38^th Street in Covington will significantly expand the business’ labs footprint.

“Our central lab plays a vital role in helping our customers make timely, efficient and informed decisions about their clinical trials and ensure patient safety,” said Leon Wyszkowski, president of the analytical services division at Thermo Fisher Scientific. “Our expansion will enhance their ability to advance life-changing research. We are excited to expand into Covington and grow our operations in Highland Heights as a vital part of our global labs capabilities serving our customers. We value the support of state and local officials as we continue to hire talented colleagues to advance our company’s mission to enable our customers to make the world healthier, cleaner and safer.”

The PPD clinical research business provides global contract research services to pharmaceutical, biotech, medical device and academic organizations. The business’ clinical development offerings include clinical trial services spanning early to late-stage trials, as well as peri- and post-approval research, while laboratory services include advanced lab testing and central lab services. The company’s clinical research business has conducted trials in more than 100 countries.

Kenton County Judge/Executive Kris Knochelmann noted the region’s ideal location for a company like Thermo Fisher to invest in and expand their business: “With the Covington Life Science Lab and the Commonwealth Center for Biomedical Excellence being located in Covington amidst a cluster of life sciences companies, Kenton County is a natural location for an expansion of PPD. We are happy that PPD is continuing to invest in Northern Kentucky and provide important clinical research solutions to its customers from our community.”

Covington Mayor Joe Meyer highlighted the project’s fit with the city’s goals and positive impact on the workforce: “This company and this announcement bring to fruition an array of Covington strategies, goals and investments, including the city’s announced focus on life sciences as a target sector some five years ago and the industrial revenue bond we approved to support the construction of developer Josh Niederhelman’s 146,000 square feet of industrial space in Latonia – the first new industrial space here in decades. Our work continues to pay off for Covington taxpayers and the region’s workforce, and we welcome Thermo Fisher Scientific to Latonia, a Covington neighborhood.”

BE NKY Growth Partnership CEO Lee Crume looks forward to the job opportunities the new facility will bring: “With a projection of nearly 50% employment growth between 2020-2025, the life sciences industry continues to be one of the fastest growing in Northern Kentucky. We are excited the PPD clinical research business of Thermo Fisher Scientific has chosen to expand again in the Cincinnati region, and we are thrilled to welcome new high-paying jobs for Northern Kentucky residents.”

Thermo Fisher’s investment and job creation build on the best four-year period for economic growth in state history.