Maryland company working on COVID-19 vaccine looks to add 400 new jobs

Americans are earning more per hour, and more are employed, jobs report says
Posted at 10:19 AM, Nov 02, 2020
and last updated 2020-11-02 12:52:20-05

GAITHERSBURG, Md. — Novavax, a Gaithersburg based company currently in the process of developing a COVID-19 vaccine, said Monday they hope to nearly double their workforce by 2024.

Right now the company employs about 450 workers worldwide and plans on adding a majority of the new positions sometime in 2021.

As part of the expansion, Novavax is acquiring 122,000-square-feet of space at 700 Quince Orchard Road, near their headquarters.

Earlier this year, the company was awarded up to $1.6 billion through Operation Warp Speed to develop, manufacture and deliver 100 million vaccine doses.

To assist with expansion costs, Maryland's Department of Commerce has approved a $2 million conditional loan.

They are also eligible for several other state and local grants, loans, and/or tax credits as it relates to job creation and capitol investments.