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JPMorgan Chase completes deal for portion of AstraZeneca campus in Delaware

Banking giant JPMorgan Chase officially completed its purchase of AstraZeneca’s 58-acre south campus in Fairfax Thursday.

The deal, reportedly worth $44 million, allows JPMorgan to expand its operations in the First State as AstraZeneca trims its workforce in Delaware. JPMorgan currently employs more than 7,500 in the state after adding more than 1,200 jobs over the past two years. The company has told state officials it wants to bring another 500 more positions to the state.

The company released a statement saying it is "pleased" to have completed the purchase and expects to start occupying the new buildings in early 2015, adding "Delaware continues to be a great place to conduct business, and for our employees to live and work."

Governor Jack Markell said in a statement that the purchase will allow the New Castle County location to continue as “an engine for economic growth and opportunity in the region.”

Delaware’s Council on Development Finance approved a million and a half dollar grant to JPMorgan Chase in March. The funds are intended to help the company with the 50 million it says it plans to spend on capital improvements at its facilities in Delaware