Bayer CropScience buys 70 acres in RTP
Bayer CropScience bought approximately 70 acres adjacent to its Research Triangle Park site to give the company the ability to expand its operations here.
The company, which is part of the agribusiness division of the German company Bayer, paid about $6.19 million to buy the undeveloped land from the Research Triangle Park Foundation of North Carolina, which manages the business park.
The property is north of Bayer CropScience’s park property off T.W. Alexander Drive, which serves as the company’s North American headquarters.
“With this newly acquired property, we now have flexibility to expand our business and continue to develop innovative agricultural technologies to feed a hungry planet,” said Jim Blome, president and CEO of Bayer CropScience LP, in a news release.
Becca Hogan, a spokeswoman for Bayer CropScience, said in an email that at this time, the company doesn’t have any definite plans for the land’s development.
No immediate economic or hiring implications are expected as a result of the land purchase.
Bayer CropScience has about 500 workers in the Research Triangle Park, Hogan said, and another 140 at facilities in Morrisville and Clayton.
The company has completed or announced recent expansion projects for the park site.
In July, Bayer CropScience completed construction of a $20 million, 60,000-square-foot greenhouse that’s used for soy, corn and other broad-acre crop research.
The company also recently announced plans to break ground in February on its North American Bee Care Center, a more than 6,600-square-foot building in Research Triangle Park that’s slated to serve as a gathering place for researchers, bee experts, students and other visitors.
The park location is also expected to see employment growth in the Bayer CropScience seed division.
In September, Bayer Crop Science announced the Research Triangle Park will be the global headquarters for the company’s seed business.
The shift made the headquarters closer to the company’s largest market for seeds, Hogan said in an email.
Growing the company’s seeds business is one part of a four-part business strategy. The company is expecting its seeds business to double to around 20 percent of overall sales by 2016.
Hogan said the division at the park is expected to see employment growth of 35 percent by the end of the year compared to 2011 employment levels.