Massachusetts economic development officials are likely whooping it up this morning on the news that the U.K.'s Shire is significantly upping the ante for the planned expansion of its Human Genetic Therapies unit in Lexington, MA. After originally blueprinting a $394 million plan to build up its campus and add 680 full time workers, Shire now says that it will sink $460 million into the effort and boost its work force by 750 staffers.
Shire's decision to expand in Massachusetts came after the state came up with $40.5 million in tax incentives and grants. And the city of Lexington also pitched in to help woo Shire. Last week the company inked a lease deal for a 160,000 square foot building to house a lab and new offices. That facility should be ready to open in 2012.
Shire created the Human Genetic Therapies division following the 2005 buyout of Transkaryotic Therapies. The unit moved from Cambridge to Lexington last fall.