Amgen, the largest private-sector employer in Ventura County, has announced plans to invest $600 million in a new research and development facility at its headquarters in Thousand Oaks. This significant investment marks a pivotal shift, as the company has been expanding its operations beyond the local area in recent years. Construction is set to begin shortly, and the biotechnology firm estimates that the project will create “hundreds of U.S. jobs.”
Local officials have lauded the announcement. Jeff Gorell, a Ventura County Supervisor, described the investment as “monumental,” highlighting its potential to bolster the local economy. Andrew Powers, the City Manager of Thousand Oaks, referred to the development as “a seismic event,” noting it could represent one of the largest single-project economic investments in the county’s history. “It’s difficult to understate just how impactful this will be for Ventura County’s economy,” Powers stated.
The new facility will replace Building 14, one of Amgen’s original structures built in the 1980s. According to Elissa Snook, Amgen’s Executive Director of Global Media Relations, the center aims to enhance collaboration among scientists, researchers, and engineers, accelerating the discovery of next-generation medicines. While Snook did not provide specific details about the facility’s size or the number of jobs it will create, she emphasized its role in fostering innovation.
Analysts view this project as part of a broader trend among U.S. pharmaceutical companies to expand domestic operations. David Amsellem, a senior research analyst with Piper Sandler, noted that such investments can help mitigate political pressures related to tariffs and regulatory scrutiny. “If they continue to invest in domestic capacity and create jobs here, that will ultimately put them in the good graces of the administration,” he explained.
The decision to establish the new research and development center in California aligns with the interests of both the Trump administration and California Governor Gavin Newsom. Amsellem pointed out that this strategic positioning is crucial for drug companies facing public relations challenges from various political factions. “The optics of what Amgen is doing here and what their peers are doing is good for the industry,” he stated.
Despite the political implications, Amsellem emphasized the practical need for U.S. companies to increase research and development spending, particularly as competition from Chinese biotechnology firms intensifies. “Investing in domestic research and development and manufacturing is good from a practical and economic sense,” he added.
Amgen’s announcement on September 2 also highlighted its significant investments in manufacturing and research and development since the passage of the Tax Cuts and Jobs Act of 2017. The company has allocated over $40 billion to these areas, including more than $5 billion in direct capital expenditures in the United States.
Currently, Amgen employs approximately 5,500 people in Thousand Oaks, making it the largest non-government employer in Ventura County. However, this number has decreased from over 8,000 employees in 2007, following a series of layoffs and relocations of various functions in the 2000s and 2010s. In recent years, the company has opened new facilities in other states, including a $1 billion manufacturing plant in North Carolina and a $950 million expansion in Ohio.
Gorell reflects on the past anxieties surrounding Amgen’s future in Ventura County, noting that the new expansion should alleviate such concerns. “This sends a signal that Amgen is not only staying, but is absolutely committed to this community and this county,” he affirmed. He believes the expansion will encourage further growth in the local biotechnology sector, potentially attracting more startups and mid-sized companies.
As the Conejo Valley emerges as a significant player in the biotechnology industry, Gorell hopes that Amgen’s investment will catalyze further development in the region. “This is the big strategy, to create new jobs here so people don’t have to leave the region or drive into Los Angeles or Santa Barbara to find good jobs,” he concluded.
This development represents not just a corporate expansion but a commitment to the local community, signaling a potential resurgence of the biotechnology industry in Thousand Oaks.
